The market trend has turned inconclusive with the outlook for the day depending on which side of 5941 mark the benchmark index trades. Intraday, it must open weak with dull sentiments.
The supports are at 5900, 5872 & 5831 and resistances at 5969, 6010 & 6038.
Intraday traders may trade according to whether Nifty opens above or below 5941 i.e. go short if it opens below 5941 & long if it opens above 5941. The stop loss for shorts should be fixed at 5960 & for longs at 5885.
Short term traders may buy calls if nifty trades conclusively above 5965 & puts if it conclusively trades below 5875.
Mid term investors may bid HCL tech at 1067.05 & HDFC bank at 588.05 in case of weakness and offer 10% of their holdings in HCL Tech at 1176.95.
The supports are at 5900, 5872 & 5831 and resistances at 5969, 6010 & 6038.
Intraday traders may trade according to whether Nifty opens above or below 5941 i.e. go short if it opens below 5941 & long if it opens above 5941. The stop loss for shorts should be fixed at 5960 & for longs at 5885.
Short term traders may buy calls if nifty trades conclusively above 5965 & puts if it conclusively trades below 5875.
Mid term investors may bid HCL tech at 1067.05 & HDFC bank at 588.05 in case of weakness and offer 10% of their holdings in HCL Tech at 1176.95.
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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