The readers of this blog might have confirmed from Nifty's chart yesterday how our support of 5814 held although there was a minor blip down to 5804 in the opening hours of trade.
The support for today is at 5825 & if it holds then the Nifty will move up north with resistances at 5870, 5896 & 5923.
On the other hand, if it slides below 5925 then the supports are at 5814, 5784 & 5764.
There might be another breakout coming today and intra-day traders are advised to go long with strict stop loss at 5814.
Short-term traders, ie those players who do not have to necessarily square off their positions by the end of the day and can carry their positions for a fortnight or more, if necessary, may buy nifty 5600 puts of October series if nifty trades above 6024.
Mid-term investors may prune their portfolios off non-performers.
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.
The support for today is at 5825 & if it holds then the Nifty will move up north with resistances at 5870, 5896 & 5923.
On the other hand, if it slides below 5925 then the supports are at 5814, 5784 & 5764.
There might be another breakout coming today and intra-day traders are advised to go long with strict stop loss at 5814.
Short-term traders, ie those players who do not have to necessarily square off their positions by the end of the day and can carry their positions for a fortnight or more, if necessary, may buy nifty 5600 puts of October series if nifty trades above 6024.
Mid-term investors may prune their portfolios off non-performers.
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.
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