Mid Market Report, November 27, 2013 | Stocks and Commodities

P R Sundar, Aditya Trading Solutions

November 27, 2013
Time: 12.35 pm

Mid Market Report:

1. Markets are trading with negative bias as expected.
2. US markets record close, half the Asian markets are trading higher, are not affecting our markets.
3. People are shorting the market as FIIs have sold after a long time.
4. But one section of the people will start covering their shorts once FIIs start selling.
5. At the same time, Finance Minister's announcement regarding bringing down fiscal deficit help banking stocks and they are not falling much.
6. Europe is likely to open higher.
7. Therefore short covering in Nifty up to 50 points is not ruled out.

Recommendation:

1. If Nifty future closes around 6100, then sell 6000 Put and 6200 Call.
2. If Nifty future closes around 6050, then sell 5950 Put and 6150 Call.
3. This trade will be for one day as Nifty expires tomorrow.