There is still hope for bulls in that the key support of 6030 held yesterday but technical charts suggest a bit more of weakness. But today being the settlement day of the November series, the markets may tend to be erratic.
The critical point to watch for the day is 6053 and below this mark the nifty will remain weak with supports at 6030, 6010 and 5989.
The nifty will be bullish otherwise with resistances at 6077, 6097 and 6120.
Intra-day traders may go long if Nifty trades above 6063 with stop loss at 6046. If Nifty trades below 6046 then they may go short with stop loss at 6063.
Short-term traders may short the market if it dips below 6030 and go long only if it goes above 6020.
Mid-term investors may buy HDFC Bank at 630.05 in small quantities. They may also consider selling 10% of their holdings in Tata Motors at 409.2 and Tata Steel at 406.55.
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.
No comments:
Post a Comment