The technical charts suggest that there might be a bit more of an upside. That being said, the critical point for the day is at 6206 and the Nifty must stick it's head above this point in order to continue in its current bullish trend, in which case the resistances are at 6241, 6263 and 6298. Otherwise it will loose a bit of steam with supports at 6183, 6148 and 6125.
Intra-day traders may trade long if the Nifty trades above the 6206 mark with stop loss at 6170. Otherwise they may trade short with stop loss at 6202.
Short-term traders may ride their longs and add more with stop loss at 6170. They may go long in HCL Tech with stop loss at 1120 and go long in ONGC with stop loss at 284.
Mid-term investors may take advantage of the current strength and get rid of the non-performers in their portfolio. They may also offer 10% of their holdings in each of HCL Tech at 1175.95, Tata Motors at 411.55 and Tata Steel at 427.65.
Intra-day traders may trade long if the Nifty trades above the 6206 mark with stop loss at 6170. Otherwise they may trade short with stop loss at 6202.
Short-term traders may ride their longs and add more with stop loss at 6170. They may go long in HCL Tech with stop loss at 1120 and go long in ONGC with stop loss at 284.
Mid-term investors may take advantage of the current strength and get rid of the non-performers in their portfolio. They may also offer 10% of their holdings in each of HCL Tech at 1175.95, Tata Motors at 411.55 and Tata Steel at 427.65.
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