Reflecting about a playful friday
SunTV did not really shine as expected. Readers of the blog would have made a small loss in the trade. However readers who shorted nifty future as per levels given would have printed out the almighty dollar as nifty crashed from short level to almost 3rd target.
For monday trading
Bull Level
Buy nifty future at retracement level of 4210 with stoploss at 4192 for targets 4275, 4300, 4331.
Bear Level
1) In the scenario of nifty future breaking 4192, short nifty future at retracment to 4210 with 4225 as stoploss for targets 4165, 4140, 4125.
2) Short nifty future when it trades at 3rd target of long level of 4331. Instead of shorting in future buy 4000 june month put at around 70 rs with stoploss at 56 rs for targets 95, 112, 130.
If this trade becomes deep in the money, one can carry the position for targets 180 ,195.
Impending Breakout - ADLABS
Adlabs is a at a critical level. On monday crossing 345, buy adlabs on retracement to 334 with stoploss at 322 for targets 367, 385. It is essential that adlabs crosses 345 in futures before this trade is taken.
Note:
I have tried to analyse RIL, SBI and ONGC on a weekly basis here
