The Nifty continues to be weak and is headed towards the support of 6624. What needs to be seen is whether the support holds or is taken out. A breach of 6624 with volumes and on conclusive basis will signify a bear market for some time.
That being said, the intra-day traders may go long if the benchmark index trades above 6688 and book profits at 6698 & 6742 with stop loss at 6670. If Nifty trades below 6670 then they may play on short side to book profits at 6646 & 6624 with stop loss at 6675.
Short-term traders may cover their shorts today if they haven't already.
Mid-term investors may bid Ambuja Cement at 185.20 & Bank of Baroda at 791.20.
(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.)
That being said, the intra-day traders may go long if the benchmark index trades above 6688 and book profits at 6698 & 6742 with stop loss at 6670. If Nifty trades below 6670 then they may play on short side to book profits at 6646 & 6624 with stop loss at 6675.
Short-term traders may cover their shorts today if they haven't already.
Mid-term investors may bid Ambuja Cement at 185.20 & Bank of Baroda at 791.20.
(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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