Updated time- 15th february 3:15pm.
Buy Bharti Airtel at 316 and Bhel at 204.
Both stock have bounced back from its support point. Derivative traders can buy February future contract of both those stock. I will update on Monday where to book profit.
On 6th February I had suggest to stay short in NIFTY and now NIFTY is in bear stage since last 8 days. Now it has break 5900. Most of the banking shares are in down trend which will result more down trend in NIFTY and bank nifty so low risk traders can book part profit from short nifty and cover their short position.
Now Nifty will get support around 5810 and the range for the month of February is 5810-6120.
Be careful while trading in Nifty option in this month. I suggest avoid option trading for this month and trade in Nifty future only.
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MCX crude was facing resistance near 5180-5190 but yesterday it has crossed with a good volume upto 5229. It has given a good breakout. Last week crude was not able to break below 5120 as it has touched the low of 5121 ( As Nymex crude is trading near $97 which has got good support at $94 and it will now go non stop upto $101 . So MCX crude near term target is 5350-5370. SO stay long in crude with a stop loss of 5175.
Nifty is facing very strong resistance until unless Nifty able to cross over 6020-6040, it will taste 5950-5910.
So keeping stop loss at resistance stay short in Nifty.
Option traders can buy Nifty put option.
Buy February 5900 strike put
