Mid Market Report, October 23, 2013 | Stocks and Commodities

P R Sundar, Aditya Trading Solutions

October 23, 2013
Time: 11.45 am

Mid Market Report:

1. Chinese money market rates shot up by more than 40 basis points.
2. So the effect is felt in many stock markets.
3. Anyway people need areason to book profits.
4. Our market should take support around 6180.
5. If Nifty trades firmy below 6180, keep stop losses for your Put options.
6. In case stop loss triggered, move down by 100 points.
7. For example, if you have sold 6000 Put option and stop loss is triggered then sell 5900 Put option.
8. This is only a slight disturbance.
9. Our market will go up, it may take few more days.
10. If you are not comfortable in selling 5900 Put option, then sell 5500 Put option in December expiry.

Follow up:

1. Yesterday we suggested selling Nifty futures and buying Bank Nifty futures. Those who have initiated, book profits now as there is a profit of more than Rs 5000 per lot.