If the Nifty conquers the immediate resistance of 5866 today then it is poised to move up further north facing successive resistances at 5887, 5916 and 5982.
Otherwise the Nifty will remain weak with supports at 5829, 5800 and 5749.
However our outlook for the day is that the undertone should remain bullish for the day even if it may remain weak.
Intra-day traders are advised to trade long above 5866 and short below this point with 5866 as stop loss for longs and shorts as the case may be.
Short-term traders may buy Nifty puts at higher levels with stop loss around 6055 levels.
Mid-term investors may consider pruning their portfolio off and may write to us about the stocks they own for our free advise.
Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.
No comments:
Post a Comment