The markets behaved very much in
expected lines as stated in our previous post with the benchmark index gyrating
around the 7108 mark. Even our predicted support of 7082 held and Nifty bounced
back from this point.
Our outlook for the market continues to
be bullish with a strong undertone detected indicating yet another breakout
propelling Nifty towards new highs.
The intra-day traders may go long if the
nifty trades above the 7128 mark with stop loss at 7115 to book successive
profits at 7152 and 7185. However if the nifty somehow trades below the 7101
mark then they may open shorts with stop loss at 7122 to book successive
profits at 7088 and 7055.
Short-term traders too may play on the
long side and even add new longs in case of weakness with stop loss at 7045.
Mid-term investors may bid for Bank of Baroda at 866.55 and HCL
Tech at 1362.95 and continue selling the non performers in their portfolio in
every rise.
(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 your IDs or portfolio.)
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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