The readers of this blog might have noticed how exact we were in predicting accurate strategies for both the intra-day traders and for the short-term traders and both must have surely gained.
Our outlook continues to be negative and the next key support happens to be at 5973 but this is not to say that we might go that far. Moreover, the settlement blues may set in today making it more un-predictive and erratic.
That being said the 6133 mark will decide the direction of trade today. Above 6133, the nifty will face resistance 6157, 6194 and 6218. Otherwise it will remain weak with possible supports at 6096, 6072 and 6035.
Intra-day traders may trade accordingly with stop loss for longs at 6105 and that for shorts at 6137.
Short-term traders may take contrarian position at the end of the trading session, i.e. go long if it weakens at the end and go short if it is bullish towards the close.
Mid-term investors may stay away from the market as no clear signals are emerging.
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.
No comments:
Post a Comment