The market has turned weak as we had envisaged and those who played on short side as advised in our previous post would have seen the accuracy of technical charts.
The market will continue to be weak heading towards the key support at 5942. The intraday supports are at 6126, 6083 & 6042 and intraday resistances will be at 6178, 6213 & 6142.
Intraday traders may trade on the short side if the index trades below the 6149 mark in initial hour of trade with strict stop loss at 6162. otherwise they may trade long.
Short term traders may continue to short the market at higher levels with strict stop loss at 6223.
Mid term traders may bid and offer at rates indicated in our previous post.
The market will continue to be weak heading towards the key support at 5942. The intraday supports are at 6126, 6083 & 6042 and intraday resistances will be at 6178, 6213 & 6142.
Intraday traders may trade on the short side if the index trades below the 6149 mark in initial hour of trade with strict stop loss at 6162. otherwise they may trade long.
Short term traders may continue to short the market at higher levels with strict stop loss at 6223.
Mid term traders may bid and offer at rates indicated in our previous post.
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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