Goldman's Fraud forces world markets to correct and we are no different.... But Avoid selling @ gap down opening, instead buy in the range of 5160-5180 with a stoploss of 5100.

Nifty View:

Dont sell at opening bell, wait for markets to settle down. 5155-5175 is a strong support zone and if this is broken then next support comes in around at 5100.

NIfty Option startegy:

Covered Call: Buy 5200 call @ opening bell( 50-60)  and Sell 5300 call ( 25-30 ) @ opening bell . ( As there is a gap down opening both options should be available around 50 % discount to previous closing price ).



Stock View: Taj Gvk Hotels

The stock gave a multi month breakout this week and touched a new 52 week high of 171. The stock is looking good on charts and may outperform markets

For traders: Buy Tajgvk around 164-166 with a stop of 158 and look for targets of 175/180.

For short term players: Buy Tajgvk around 164-166 with a stoploss of 150 on closing basis and look for targets of 185/200.

Have a nice trading day

Regards

Ankit