Yesterday's [June 23rd] Trading Calls Performance [100% Correct] : What Next On Wed, June 24th?

Indian stock market were under selling pressure from last 1 week and in spite of poor global sentiments it was in recovery mode today, bounced back and closed in +ve which was expected after sharp falls over the last couple of days.
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Sensex, bounced back in the last 30 minutes of trading after hitting a three-week low and ended flat in choppy trade on Tuesday. Firm European stocks helped the Indian bourses bounce back after the benchmark Sensex touched a low of 14016.95 in line with extremely weak Asian markets.
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Reliance Industries (RIL), with the highest weight in the Sensex, facilitated the bounce-back as it surged by Rs. 114.95 from its intra-trade low of Rs. 1,901.10. RIL closed 3.26 per cent up at Rs. 2,016.05, after reports that NTPC might buy gas from RIL at $4.2 per million British thermal units except for the projects under dispute in court. The initial slide in the market was attributed to extremely weak Asian cues. Asian indices ended down 2-3 per cent except the Shanghai Composite, which was flat.

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What Next on Wed, June 24th?
Indian markets will again look for global sentiments but one can see little strength developing in the market mainly due to short covering which is expected during last two days of trading before expiry.

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The rollover is low means very few traders are willing to move long position to July series. Also those who were short will try to book the profit before expiry because next focus will be on budget and no one want to have large position before the budget, outcome of which can take the market either side in big way.

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If global sentiments are positive on Wed, one can expect shortcovering above Nifty 4300 levels, little chance for market to go down again on Wed.

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Yesterday's [June 23rd] Trading Calls Performance :-
[Rs28,800 intraday profit per lot in RIL 1920 Call given today]
There was 3 sms sent to all the paid subscribers with following text msg, performance in blue italics.

1. June 23rd - 9:55am : Mkt likely to fall ~1.5-2% today but expected to bounce back and close ~1% down. Pls exit yesterday's call of Nifty 4400 PUT bought @155 with tgt 240-250+:HBJ Capital - Our open bell prediction were correct, market did fell down 2% and bounced back to close flat. On Monday we gave a call to buy Nifty 4400 Put at Rs155 and today traders exit at Rs240 hence making a gain of Rs 4,250 per lot.
2. June 23rd - 11am : During last 1 week, RIL fell down from 2300 to 1970 which is 14% down as compare to mkt fall of 6-7%. Buy RIL 1920 Call Option @60-70, SL @ 50, tgt 120-150 :HBJ Capital - Mid day call was also successful, we asked traders to buy RIL 1920 Call at Rs60 and by closing RIL spot price was 2016, hence making a profit of Rs96, per lot profit was Rs28,800.
3. June 23rd - 2:30pm : Better to hold RIL 1920 Call till expiry (CMP = 2020) & set SL @100-120. On can also buy RIL 1950 Call @80, SL @70, tgt120-130 in next 2 days :HBJ Capital. - Closing day calls was to hold RIL 1920 call or book partial profit. We also advice traders to take RIL 1950 call at Rs80 and hold. Today RIL spot closed at Rs2016 which gives us a notional value of this call as Rs66. One need to hold it and wait for our next move on Wed.

-JK, Senior Technical Analyst

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