President Trump has said that the deal with Iran is in its final stages – the market has taken this news positively. GIFT NIFTY is up by over 200 points, indicating that the market is ready for a ‘gap-up’ opening. On Tuesday, Nifty closed at 24,032, registering a decline of 86 points. Meanwhile, Asian markets are also seeing strong movement, due to positive news related to the situation in Iran. Crude oil prices are in a downward trend and are trading around $108 per barrel. The rupee is trading at its lowest level against the US dollar, and there is selling pressure from foreign investors. Yesterday, FIIs sold ₹3,621 crore, while DIIs bought a total of ₹2,602 crore.
Ansh Bhilwad’s shares
CASH
Buy Aavas Financiers – TGT 1520, SL 1412
futures
Buy Vodafone Idea – TGT 11.5, SL 10.5
OPTIONS
Buy Hero MotoCorp 5200 Call – TGT 205, SL 100
TECHNO
Buy ICICI Bank – Tgt 1289, SL 1232
FUNDA
Buy SRF – TGT 2795, SL 2410
IPL/INVEST
Buy Coforge – TGT 1400, SL 1075
NEWS
Buy J&K Bank – Tgt 142, SL 132
MY CHOICE
Buy IRCTC – TGT 630, SL 541
Buy IEX – Tgt 132, SL 125.5
Buy Ajanta Pharma – TGT 3050, SL 2830
MY BEST
Buy Hero MotoCorp 5200 Call – TGT 205, SL 100
Pooja Tripathi’s shares
CASH
Buy Poonawalla Fincorp – TGT 450, SL 434
futures
Buy RBL Bank – TGT 340, SL 328
OPTIONS
Buy InterGlobe Aviation 4250 Call @ 175 – Tgt 325, SL 100
TECHNO
Buy KEC International – TGT 585, SL 564
FUNDA
Buy L&T – Tgt 4400, Duration 6 Months
INVEST
Buy M&M – Tgt 3600, Duration 12 Months
NEWS
Buy Raymond Realty – TGT 483, SL 469
MY CHOICE
Buy Balrampur Chini – Tgt 541, SL 525
Buy BEL – Tgt 445, SL 428
Buy Aadhaar Housing – TGT 527, SL 511
my best choice
Buy KEC International – Target 585, SL 564
Where is Nifty’s resistance?
From a technical point of view, Nifty’s support is at 23,800.
For near term, Nifty’s resistance lies at 24,334/24,600.
HDFC Securities Deputy Vice President, Nandish Shah said that the market remains under pressure due to rising crude oil prices and weak rupee. Right now, the market is seeing a pattern of rise one day and fall the next day. New information regarding the conflict involving Iran, as well as fluctuations in crude oil prices, will impact overall market movement and direction.
