Market Update by Mumbai Team

ITC – to venture into frozen foods launching new product category every quarter. Company is also one of the major beneficiaries of GST.

SBI– to take hit of Rs 900 crore on Kingfisher dues - expects to recover only small part

Kaveri Seed – to announce Buyback Of Equity Shares

Mafatlal Industries – ready to make an entry into the ready-made segment, aims to tap North India as a market

M&M - Topline and bottomline ahead of estimates, operational numbers in sync – mainly due to tractor business

BAN SCRIP - DLF, GMRINFRA, IBREALEST, INFIBEAM, JPASSCOAIT, RCOM, RELCAPITAL

                  

OI has increased at 9700 CE , 9800CE and 9900 CE strikes :

Comparing it with FII data today’s addition in Call option Sell positions are added by FII’s, Pro traders  and Buy positions are added by Clients. Nifty might take some time to come up as clients have bought more call options today

OI has increased at 9500 PE, 9650 PE strikes :

Comparing it with FII data today’s addition in Put option Buy positions are added by FII’s, Pro traders and Sell positions are added by Clients.

Although today’s data is showing negative signs, I still maintain my bullish view as amount of selling done by FII and Pro traders is very less compared to the buying happened earlier. Hence chances of Nifty touching 9850 levels is high

Volume Shockers

View From Lion's Desk: Tata Global
Morning Star - Weekly Formation at 151.25
It should hold at this level and bounce back. Maintain Stoploss of 147
I will average my trade if it touches 151.25
I am looking for the target of 185 - 204 in three months time frame


Source: Economic Times, Business Standard, Financial Express, Indian Express, Mint, Business Line, Bombay Stock Exchange, National Stock Exchange

Disclaimer: This is for study purpose and is intended for Trading Terminology Closed Group.