The benchmark index continues with its
bullish rampage showing no signs of crack in the near future.
The intra-day traders may go long if the Nifty trades above the 7275 mark with stop loss at 7245 to book successive
profits at 7300 and 7348. However, if the Nifty somehow slips below the 7230
mark then they may open shorts with stop loss at 7250 to book successive
profits at 7208 and 7161.
Short-term traders may play on the long
side and even add new longs in case of weakness with stop loss at 7190. They
may however square off their longs around 7300 levels and bid for Nifty 7400
puts of May 2014 at Rs. 85.10 per lot. They may however, sell the puts as soon
as they see profit.
Mid-term investors may bid for Bank of
Baroda at 899.55, Ambuja Cement at 210.85 and HCL Tech at 1251.95 in small
quantities 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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