NIFTY & STOCK VIEW - 27 MAY'20

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NIFTY

  1. NIFTY opened on a high note today and closed with 10 Points loss.
  2. NIFTY is still trading at it's key level of 9050.
  3. Weekly range for NIFTY is in between 9400 - 8400.
  4. Highest OI on CALL Side is on 9200 - 2.9 Million whereas it was on Highest on 10000 - 3 Million till today. Next highest OI on the CALL Side is on 9500 - 2.7 Million which seems like a resistance.
  5. Highest OI on PUT Side is still on 9000 - 3.2 Million followed by 8500 - 2.7 Million.

Conclusion

So as per data on Option Chain and weekly range of the NIFTY, the NIFTY movement for next today is more squeezed and now it should expire between 9000 - 9200 or in extended case 9000 - 9500 in May Series. 


STOCK IDEAS

1. BATAINDIA

Stock is currently trading at 1282 ended up in Green with huge volume of 2.29 Million.
Key support level is 1262 which is a good support for the stock tested multiple times in history while the resistance stays at 1223 & 1326. 

BATAINDIA, STOCK UPDATE, STOCK IDEA, TRADING, SENSIBLE TRADE


2. UPL

Stock is currently trading at 372 with approximately double volume of 14.9 Million and ended up Red.
Key support level is at 356 & 345 while the near resistance is at 373. One should look for a shorting opportunity on the stock.

UPL, STOCK UPDATE, STOCK IDEA, TRADING, SENSIBLE TRADE


PREVIOUS DAY

You can check NIFTY & STOCK IDEA - 26 MAY'20 where I shared my view about HAVELLS & ZEEL. HAVELLS went in right direction, whereas ZEEL hit the stop loss. 


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