On Anil Singhvi's show, Jay Thakkar reveals affordable option strategy II Earnings high, but margin, risk and brokerage low

Jay Thakkar Vice President & HOR Equity Research (Fundamental, Technical, Derivatives & Algo) at Marwadi Shares and Finance Ltd said the strategy for today will be buying into the 15000 call option of Nifty. The current price is near Rs 180, target on the call is Rs 222 – Rs 245 and the stop loss is Rs 125.

Jay Thakkar recommended buying into the 15000 call option of Nifty. The current price is near Rs 180, target on the call is Rs 222 – Rs 245 and the stop loss is Rs 125.

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Clearly breakout is visible on Nifty, Nifty could rise to the level of 15115 – 15150. The market is seeing good support at the levels of 14940 on Nifty. Bank Nifty is also seeing a similar pattern.  Bank Nifty’s call was recommended in last session, all targets were being achieved today.

Sharekhan says that the Nifty opened gap-down and consolidated throughout the day. In terms of the Fibonacci retracement, it retraced 50% of the recent rise. The hourly chart shows that the consolidation in the last couple of sessions has taken the form of a bullish Wedge pattern. From the lower end of the pattern & the Fibonacci level, the index attempted recovery towards the end of the session. Going ahead, 15000-15050 will be the immediate hurdle zone to watch out for. Once that gets taken out, the index will be set to test the swing high of 15273. On the other hand, 14860-14800 will act as a crucial support zone for the index.

ट्रेडर्स के लिए जय ठक्कर का सस्ता ऑप्शन: मार्जिन, रिस्क और ब्रोकरेज कम और कमाई ज्यादा...#CashKaOption @AnilSinghvi_ @JayThakkar22 pic.twitter.com/YicmfjtrDC

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Other technical observations indicate that on the daily chart, the Nifty is between the 20-day moving average (DMA) and the 40-DEMA, of 15028 and 14656, respectively. The momentum indicator is bearish on the daily chart. On the hourly chart, the Nifty is below the 20-hour moving average (HMA) and the 40-HEMA, of 15076 and 14984, respectively. The hourly momentum indicator is bearish. The market breadth was negative with 556 advances and 1357 declines on the National Stock Exchange.