It was a smart bounce back in the previous session but we are
not out of the woods as yet and return of bulls will only be confirmed if the
benchmark index manages to stick it’s head above the 6710 mark with good
volumes below which, the next support for Nifty is at 6605.
The intraday trade depends on which side of the 6750 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 6748 and book profits at around 6714 with stop loss at 6760. Otherwise,
they may go long with stop loss at 6735 to book successive profits at around 6813.
Short-term traders may ride their long positions and even add to
them in case of weakness with stop loss at 6710.
Mid-term investors may consider buying Ambuja Cement at 210.65 in small
quantities. They may also consider buying Tata Motors at 417.30 and L&T at
1248.35
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