The followers of this blog might have noticed that we had predicted a breakout coming. Yesterday the markets did exhibit a breakout and the 6206 mark was conclusively conquered.
The critical point for the day to decide intra-day trend is at 6258 above which the benchmark index will meet resistance at 6284, 6326 and 6352. Otherwise it will remain soft and consolidate with supports at 6215, 6189 and 6146.
Intra-day traders may trade accordingly with stop loss for longs at 6195 and that for shorts at 6274.
Short-term traders may add more long positions in case of weakness and continue to ride their longs with stop loss at 6274.
Mid-term investors may consider adding ITC to their portfolio by placing bid @ 293.85, Tata Motors bid @ 384.65 and Tata Steel bid @ 414.05in 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
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