✅ Amid positive global cues, benchmark indices closed on a positive note today. 📢 At 3:30 PM, the Sensex improved by 599.34 points or 0.83% at 73,088.33, and the Nifty was up 151.15 points or 0.69% at 22,147.00. 📊Among sectoral, Nifty Bank (⬆️1.07%) turned out to be the best performer while Nifty Pharma (⬇️0.65%) saw considerable selling.
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✅Bear put spread strategy by Thakkar 📌Buy one lot of in the money (ITM) 1040 PE at Rs 24.2 and 📌Sell one lot of OTM 1000 PE at Rs 9.2 📌Holding period: Till monthly expiry Thakkar said Axis Bank has broken down from its crucial support of Rs 1,020. The next support is 980 and then 950. On the upside, until 1040 level is not taken off, the overall trend remains negative.
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Metal and energy stocks zoomed, while bullion prices surged over the past month as investors seem to be rushing for commodities more than equities. Experts are, however, divided on whether or not the rise is driven by reflation trade. What is reflation trade? It is a strategy based on the assumption that economic activities will pick up, and inflation will rise.
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