Market in correction phase, Nifty may slipped below 8000 level, Option calls

SENSEX and Nifty has gone down, both benchmark index has broken more than 0.5%. Selling trend in FMCG, IT, Capital goods, while Pharma, Realty and Banking shares are in buying trend.

The market still remain in correction phase, in this time Nifty may slipped below 8000 level. Bank Nifty give support to market, we can see Bank Nifty support near 18000-18200 level. Expert advice that Traders can invest in quality shares for long term because share are available at low prices, however short term traders wait for some time.

According to analysts, If Nifty go above 8600 level than up-trend is possible in market.

Option Calls Today

ITC Stock Option Call strike price Rs 320 Expiry 30 April 2015 Sell below 9.55 Target 8.06 stop loss 11.00.

HUL Stock Option Call strike price Rs 860 Expiry 30 April 2015 Buy above 10.95 Target 15.80 stop loss 3.90.

Maruti Suzuki Stock Option Call strike price Rs 3800 Expiry 30 April 2015 Buy above 50.90 Target 70.50 stop loss 21.80.