The critical point for the day is at 6065. If the benchmark index trades above this mark in the initial hour of trade today then we may see a bit of an upside with resistances at 6093, 6130 and 6158. Otherwise it will drift down with supports at 6027, 5999 and 5962.
The technical charts indicate that although an intermediate bottom may be in place but we are not out of woods as yet.
Intra-day traders may trade accordingly depending on which side of the 6065 mark the Nifty holds. However, in case if it trades above 6065 and one goes long then one may place their stop loss strictly at 6021. In case of shorts one may place stop loss at 6077.
Short-term traders may go long with stop loss at 6021. They may short the market below 6015.
Mid-term traders may bid Tata Steel at 364.05 and 352.70 in small quantities.
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.
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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