Post Market Report, October 18, 2013 | Stocks and Commodities

P R Sundar, Aditya Trading Solutions

October 18, 2013
Time: 7.45 pm

Post Market Report:

1.  FIIs have bought for Rs 1750 crores in cash market today.
2. Also previous high of 6142 in cash crossed firmly and hence traders who are short started squaring their positons.
3. Fed tapering may not happen by the end of this month, that is the main reason for up move in our markets.
4. Next resistance of 6250 is not far away and if that is crossed the next target is all time high.
5. BJP leading in the opinion polls also adding to the sentiment.
6. But whenever markets reach top or bottom there will be volatility.
7. Suddenly profit booking can happen and one must be ready for 100 to 200 points fall from here.
8. Hence as usual we advise people to go long in options not in futures.
9. It is safe to sell 5800 or 5900 Put option as the time value will work in your favor starting next week as there are only 9 more trading sessions.
10. In case you ARE SELLING 5800 OR 5900 put option just for safety also sell 6600 call option.