The market did surge like a bull in last trading session and the outlook for the immediate trades has turned optimistic. The next key resistance is at 6202 which in all likelihood must be conquered conclusively sooner or later.
That being said, the key point for trades today is at 6154 and Nifty will remain bullish above this point with resistances at 6204, 6232 and 6283. Otherwise i.e. if it trades below the 6154 mark, then it will loose a bit of steam with supports at 6125, 6075 and 6047.
Intra-day traders may trade on the long side if Nifty trades above the 6154 mark in the opening hour of trades with stop loss at 6154 itself. Otherwise they may short the market with stop loss at 6202.
Short-term traders may go long in Nifty at lower levels with stop loss at 6052. They may also go long in ONGC with strict stop loss at 285
Mid-term investors may sell 10% of their holdings in Tata Steel @ 411.25.
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