Nifty-50 Update/Future&Option Call /11 November 2017
NIFTY-50 UPDATE AND TREND
Nifty seems to be in consolidation trend and has shredded enough for the past five session in the name of consolidation and seems to be holding its crucial support levels of (10300--10250).If immediate crucial support of 10250 is not breached negatively and consecutive closes above this level will make a case of upside move and this level seems to be sustaining.
Overall trend is sideways and profit booking may not intensify as market seems to have corrected from the previous high of 10490--10390 and may see some sharp short covering as we move ahead this week.Immediate Support Zone are in range of (10280--10250) and
downside Support levels around (10180--10140).Its Immediate Resistance Zone are in the (10360--10390) range whereas upper Resistance level is around 10440--10500.One may Buy Nifty 50 (Future) around 10250 for targets of 10360 plus with Stop Loss of 10220.
FUTURE & OPTION CALLS
CESC is looking superb in chart and seems to entering a bullish trend .Consecutive closes above (1040--1030) and if sustained will make a case for upside move. MACD of Positive divergence of 0.88 also suggest that we may see more upside with the coming crossover.One may buy CESC(Future) around 1035--1030 for targets of 1060--1080 plus with a strict Stop loss 1020 .One may also look at potential calls in option segment like to buy CESC 1040 CE 30 NOV-17 (Option) with premium around 35--30 for potential targets of 60 plus with Stop Loss of 25.Its lot Size is 550.
PVR is looking superb in charts .If immediate crucial resistance of 1450 is positively breached and sustained then we may see more upside .One may buy PVR(Future) around 1435--1430 target of 1450--1500 with a strict Stop Loss of 1415 .One may also go for CESC option and enter a call to buy PVR 1440 CE 30 NOV(Option) around 40--35 for target 65+ with Stop Loss 28 .Its Lot Size is 400
