If the Nifty opens and trades above the 6153 mark in the initial hour of trade then it is expected to move further up north with resistance at 6236, 6285 & 6367. Otherwise it will consolidate at lower levels with supports at 6106, 6023 & 5975.
Intra day traders are advised to go long if it trades above 6153 in the initial hour of trade with stop loss at 6120. Otherwise they may short the market with strict stop loss at 6200.
Short term traders may go long at lower levels with stop loss at 6090. They may continue to ride their longs if they are carrying long positions with stop loss at 6120.
Mid term investors may get rid of the underperforming stocks in their portfolio.
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.
Intra day traders are advised to go long if it trades above 6153 in the initial hour of trade with stop loss at 6120. Otherwise they may short the market with strict stop loss at 6200.
Short term traders may go long at lower levels with stop loss at 6090. They may continue to ride their longs if they are carrying long positions with stop loss at 6120.
Mid term investors may get rid of the underperforming stocks in their portfolio.
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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