Prep for 24-28 May 2021

Welcome to this week's analysis.

i) Indices - Following the last week post, we were prone to break either side based on price action and we decisively broke to the upside. Let's check the weekly charts on Nifty to get another angle. 

There is this constant uptrend from "Corona low" followed by 4 months of consolidation. We are trying break above it and possibly look for ATH

and Bank Nifty broke out in Feb but came back to the consolidation area between 30700 and 32200. And trying to break out again. Overall, super bullish on NF and BNF.

ii) Stocks 

Currently sitting on Cipla bull call spread and bull put spread on SBI. Will initiate a calendar spread on ITC at 210 ce (sell may, buy june) - this is due to ivp being very low and with the expectation that IV will go up as result date approaches. 

Stocks on radar: Asian Paints, Bajaj Finance, Kotak bank, Zeel, RBLbank, Ibulhsgfin, Bajaj Auto - all for long trades