Prep for 07 - 11 Jun 2021

Following is the plan for next week.

i) Indices - Following the last week post, Nifty is looking ultra strong. Buying on pullbacks is a good strategy. Other way to play this would be using cal spreads or butterfly spreads. 

Bank Nifty is comparatively less potent now and we can expect it to lethargically move towards next target of 36500 spot. This is because market has spent time in these levels in previous months before and can be expected to do so again.

ii) Stocks 

Initiated a bull put spread on Adaniports (750/700 pe) based on IVP and bullish action. Coal India broke upwards (continuing from last week post) and we are long call spreads. 

Other long candidates are - Bhartiartl above 540, Bajfinance, M&Mfin, HDFC, Kotakbank, Heromotoco, L&TFH, Short candidates are Hindunilvr and Jindalstel.