The Nifty suddenly gave up all its gains
in the last hour dropping by 234 points, before closing flat in the previous
session. The settlement blues have set in, otherwise the Nifty is very much
bullish.
The intra-day traders may go long if the
nifty trades above the 7380 mark conclusively with stop loss at 7370 to book profit
at 7400, 7434 and 7485. However, if the nifty trades below the 7365 mark then they
may open shorts with stop loss at 7380 to book profits at 7313 and 7250.
Short-term traders may go long if it
weakens down to around 7275 with strict stop loss at 7268. They may open short
positions if the support of 7268 is breached.
Mid-term investors may bid for Bank of
Baroda at 879.60.
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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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