TATASTEEL : cmp : 1390.2 After the significant correction, it's reversing from the support level and trying to Break out. Huge put writing seen at ATM strikes( F &O) . Good accumulation zone 1380-1400. Stock from current level might move towards 1560. Good to grab on dips.
TGT may be 1442/1478 SL 1381 Dclbs
Positional TGT 1560 Sl 1358 Dclbs
Option Strategy : Buy Sept 1420CE/1440CE OR Sell Sept 1380 PE Disclaimer: Ideas for learning Only. Learn Regularly. Not occasionally.
Yes,I think so.According to my setup it may test ATH very soon.Let's see what happens.
anish_nanda
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Yes. Let's see how it moves tomorrow. Doesn't sustain the day's high. Hopefully it will start moving now.
riteshsoni48925
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1200 coming in any moment
anish_nanda
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Yes Tata Steel looking good to go back to 1500+ levels soon. Demand for steel very high in India and will go up further due to Infra push. Tata Steel top bet due to deleveraging and big improvement in European operations helped by fall in iron ore prices.
@MyKEYtoSENSEX, Thank you. Today though it has broken support of 1380 and made low of 1365. But might close above 1380 by end of day due to short covering.
MyKEYtoSENSEX
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@anish_nanda, yes, it has broken sl on clbs unfortunately.Positional sl intact.still I think it will revert frm here and test ath very soon. Let's see happen. Thanks.
anish_nanda
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@MyKEYtoSENSEX, I sold today. Plan to buy back tomorrow at lower levels. Tomorrow market maybe caution ahead of Fed meeting in Jackson Hole. So lower levels possible. However, Fed unlikely to say anything drastic which will rock the markets. So it may recover again next week.
MyKEYtoSENSEX
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@anish_nanda, Yes, i am also thinking like this way. By next week it could show some strength.
anish_nanda
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@MyKEYtoSENSEX, US markets have gone into red after opening in green. There could be some nervousness tomorrow ahead of Fed meeting. Since it is after our market close, most operators will prefer to lighten their positions before the event. So tomorrow can give good opportunity to buy maybe 20 Rs. lower. I think it may drop to 1450 - 1460 levels where it will be a good buy.