We wish the followers of this blog a very Happy and Prosperous 2014
The benchmark index remained inconclusive for the sixth session
in a row. However, the technical charts are now indicating that a breakout from the tight range of 6259- 6344 must
be there today, direction of breakout is indeterminable. The tipping point for
the day is at 6303.
Intra-day traders may go long only if the Nifty holds above 6307
with stop loss at 6284. However, they may go short only if Nifty conclusively trades
below 6298 with stop loss at 6316.
Short-term traders may continue to trade long with stop loss at 6214.
They may go short only if Nifty falls below the 6214 mark with stop loss at
6250.
Mid-term investors may utilize any up-spike to rid their
portfolio of non-performers.
In case
of weakness, they may consider buying HDFC Bank @ 637.25.
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.
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