Our outlook for the day is that even if the market looses a bit more to consolidate, the overall immediate trend has bullish bias.
The markets will be bullish if the benchmark index trades above the 6174 mark today in the initial hour of trade with resistances at 6198, 6233 and 6256. Otherwise it will loose a bit more ground while finding supports at 6137, 6114 and 6078.
Intraday-traders may go long if the Nifty trades above the 6174 mark with stop loss at 6156. Otherwise they may trade on the short side with stop loss at 6190.
Short-term traders may trade on the long side with strict stop loss at 6106.
Mid-term investors may place bid for HCL Tech @ 1107.30 and 1097.95, Tata Motors @ 384.65 and Tata Steel @ 403.55 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.
Thank you.As per your recommendations,i bought few shares of Tata Steel yesterday. I must say that your assessments are fairly accurate.
ReplyDeleteSangita
Thanks Madam! If you are a short-term trader then you might as well add a few more of the stock today by placing bid @ 417.70 but your stop loss for today the 6th of December should be at 405.85.
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