The markets were inconclusive in last trading session and the key point for today's trades continues to be at 6206. A breakout above 6206 seems likely today. That being said, the resistances for today are at 6221, 6240 and 6255 and the supports are at 6187, 6172 and 6153.
Intra-day traders may trade accordingly with stop loss for longs at 6197 and stop loss for shorts at 6216.
Short-term traders may trade on the long side with stop loss at 6151. ONGC counter continues to be bullish and so one may trade on the long side with stop loss at 280.
Mid-term investors may take advantage of the current strength and sell the non-performers in their portfolio. They may also consider buying ITC @313.85, Tata Steel @ 397.05 and Tata Motors @ 389.05.
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.
Intra-day traders may trade accordingly with stop loss for longs at 6197 and stop loss for shorts at 6216.
Short-term traders may trade on the long side with stop loss at 6151. ONGC counter continues to be bullish and so one may trade on the long side with stop loss at 280.
Mid-term investors may take advantage of the current strength and sell the non-performers in their portfolio. They may also consider buying ITC @313.85, Tata Steel @ 397.05 and Tata Motors @ 389.05.
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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