Profit booking in FMCG, technology, infra and HDFC Group stocks dragged the benchmark index BSE Sensex below 30,000 level, down 111.34 points at 29,918.40. Despite relative outperformance of Bank Nifty in Thursday’s trade, Nifty found it difficult to build momentum on the upside as it reversed after making a high of 9,367.15. Traders are advised to take fresh positions on the Nifty on a retracement towards 9,160. There is no need to run after breakouts. These breakouts may be the final attempt to rally before the market turns quiet and move sideways. OI increase with respect to increase in price was seen in ZEEL and Increase in OI w.r.t Decrease in price was seen in UPL 9500 CALL & 9100 PUT showing the highest Open Interest.
Nifty Future Tips / Stock Future Tips
BUY FEDERALBANK FUTURE ABOVE 110 TARGETS 110.2, 110.45, 110.7 STOPLOSS
BUY SYNDICATE BANK FUTURE ABOVE 85.2 TARGETS 85.45, 85.75, 86.05 STOPLOSS 84.6
Nifty Call Put Tips For Tuesday (2nd May)