Global markets are not supportive. Asian markets are in red and SGX Nifty is down by 15 points, as of publishing this post. So Indian markets should open flat with a slight negative bias.
Worst case scenario for Nifty is that it can drift down to 7800. There Nifty should find support in today's trade.
However if Nifty opens with a Gap-up above 7950, then it will be a very positive signal. Nifty will keep moving higher in such scenario. Further, if Nifty closes above 8000 today, then we can safely assume that it is headed to 8300.
Call-to-Action
We have 8 open long positions of Apr Futures. In these scrips, take following actions in trade today :-
- RPOWER Apr Fut: Sell at 53/53.5 if it does not open with strong gap up. It was bought at 50 and initial target given was 54. But if it opens with a strong gap up, then hold this position for target beyond 54.
- IOB Apr Fut to be sold at 32/32.5 if it does not open with strong gap up. It was bought at 30 and initial target given was 36.
- IDBI Apr Fut to be sold at 74/74.5 if it does not open with strong gap up. It was bought at 71 and initial target given was 80.
- PNB Apr Fut to be sold at 90/91 if it does not open with strong gap up. It was bought at 87 and initial target given was 100.
- SBI Apr Fut to be sold at 199/200 if it does not open with strong gap up. It was bought at 195 and initial target given was 220.
- BANKINDIA Apr Fut to be sold at 99.5/100 if it does not open with strong gap up. It was bought at 98 and initial target given was 120.
- UNIONBANK Apr Fut to be sold at 136/137 if it does not open with strong gap up. It was bought at 134 and initial target given was 160.
Take a look at the current status of 8 buy positions of April Futures held with us :-
IOB : Bought 30,Close 31.6
IDBI: Bought 71,Close 72.55
PNB: Bought 87,Close 88.7
SBI: Bought 195,Close 194.3BANKINDIA: Bought 98,Close 97.4
UNIONBANK:Bought 134,Close 132.4
HEXAWARE: Bought 268,Close 253.6
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