The point deciding the intra-day range is at 6374 and Nifty will be a bit soft and in consolidation mode if it trades below this point in the initial hour of trade, in which case the supports are at 6334, 6305 and 6265. Otherwise, the market will be bullish with resistances at 6404, 6444 and 6473. However, if the nifty trades above 6390 conclusively then the market will surge ahead up north with lot of momentum.
Intra-day traders may trade accordingly i.e. go short below 6374 and go long above 6374, with stop loss for shorts at 6390 and stop loss for longs at 6360.
Short-term traders may continue to trade on the long side with stop loss at 6300. They may also get out of ONGC around 305 levels.
Mid-term investors may consider buying Tata Motors @ 382.05 in small quantities. They may also consider selling 10% of their holdings in HCL Tech @ 1168.95 and HDFC Bank @ 735.70.
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