It may be noticed that the settlement of the April Futures and Options
is due for today i.e. on April 23 2014 due to general elections. (instead
of the original stipulated date of April 24 2014.)
That being said the Nifty
was inconclusive in the last session.
The intra-day trade depends on which side of the 6820 mark the Nifty
trades today with good volumes in the initial hour of trade.
Intra-day traders may short the Nifty if it trades for more than
an hour below 6820 and book successive profits at around 6804, 6785 and 6770
with stop loss at 6828. Otherwise, they may go long with stop loss at 6808 to
book successive profits at around 6830, 6848 and 6870.
It is presumed that the Short-term traders following us have already squared off their long
positions in the current April series as advised in our previous post. They may
consider forming short positions by placing bid for a few lots at 275.05 and 261.95
respectively for Nifty 7000 put of May series.
Mid-term investors may consider selling the non-performers in their portfolio in
case if the index remains bullish today. They may also consider selling 10% of
their holdings in L&T by placing their offer at 1405.95 for today. They may
consider buying Coal India at 295.95 in small quantities.
(Feel free to write to us for our free advice
regarding the stocks which you already hold in your portfolio. Kindly send the
quantity and price at which you bought the non-performers. Much better,
subscribe by email. It is free. And, what is more, we do not disclose or share your e-mail identities and portfolios.)
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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