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Day trading guide for Friday

Kotak Securities


After a peaceful first half with the market steadily shifting upwards, it turned tide within the latter a part of the buying and selling session changing into equally risky and to fall under the psychological help degree of 14,900. On the each day chart, the Nifty has fashioned a bullish continuation sample.

Nevertheless, it shouldn’t break the extent of 14,770. In any other case, it will re-test the extent of 14,650. On the prime, 14,920 and 15,020 could be main obstacles. After the dismissal of 15,020, the Nifty would transfer to the extent of 15,150. Buying and selling lengthy with a closing cease loss at 14,770 could possibly be the best technique. The Indian rupee fell to 74.75 ranges, which is unfavourable if it continues for the subsequent few days.

Tech Picks

Analyst: Shrikant Chouhan, Govt Vice President – Technical Analysis

Dalmia Bharat: BUY
CMP: Rs 1,559.15

Goal: Rs 1,610

Cease loss: Rs 1,535

Publish a robust rally, the inventory is buying and selling in a triangle formation and 20-day EMA is performing pretty much as good help for upward motion within the coming periods.

Tata Energy: BUY
CMP: Rs 104.95

Goal: Rs 110

Cease loss: Rs 101

The inventory is buying and selling in an ascending triangle chart sample with respectable quantity exercise, which factors out for a breakout on the each day chart.

BPCL: BUY
CMP: Rs 430.55

Goal: Rs 450

Cease loss: Rs 420

The inventory is buying and selling in an ascending channel sample and an inverted hammer candlestick formation, which signifies a bullish momentum within the close to time period.

IRCTC: BUY

CMP: Rs 1,726.4

Goal: Rs 1,780

Cease loss: Rs 1,700

Publish correction, a great base is fashioned with rising quantity within the demand zone of the counter. Therefore, a robust bullish reversal may be very seemingly within the close to future.

F&O Technique

Analyst: Sahaj Agrawal, Head of Analysis- Derivatives

Futures: Purchase Wipro Futures – April at 445
SL: 425

Goal: 470

Falling Channel breakout seen above 430 on spot.

Choices: Nifty Bull Name Unfold: 29 Apr-21 Collection:

Purchase 15,000 CE at 240 and Promote 15,300 CE at 110
Premium Outflow: 130

SL: 70

Goal: 250,300

The Nifty is predicted to commerce positively above 14,700 ranges. The market breadth has additionally gained energy, which might propel Nifty in the direction of 15,100 ranges over subsequent few weeks. On this scenario, a Bull Name unfold is apt.

Foreign exchange & Curiosity Fee Technical

Analyst: Anindya Banerjee, DVP, Foreign money Derivatives & Curiosity Fee Derivatives

USD-INR: Purchase between 74.10/30
SL: 73.90

Goal: 75.00/75.20

Commodity Calls

Analyst: Ravindra Rao, VP- Head Commodity Analysis

Commodity Change Technique (Figures in Rs)
Gold (June) MCX Purchase at 46300/46250; TP: 46900/47000; SL: 46000
Crude Oil (Apr) MCX Purchase at 4350/4320; TP: 4510/4520; SL: 4240
Zinc (Apr) MCX Purchase at 228.5/228; TP: 231.8/232.5; SL: 226
Soybean (Could) NCDEX Purchase at 6300/6280; TP: 6430/6450; SL: 6220

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