The markets remained inconclusive yesterday and the Nifty refused to trade above our predicted mark of 6688 in our previous post Those who played it on the short side in line with our advise might have profited.
6624 continues to be the critical support which, if broken will see further melt down with fresh shorts building up in the system.
Intra-day traders may go long if Nifty trades above 6670 with stop loss at 6660 and book profits at 6680 & 6703. Otherwise, they may play on the short side with stop loss at 6675 and book profits at 6647 & 6636.
Short-term traders may open fresh short positions if nifty breaks the support of 6624 with good volumes. Otherwise they may stay away.
Mid-term investors may consider buying Ambuja cement at 185.20 & Tata Motors at 414.15 in small quantities.
(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.)
6624 continues to be the critical support which, if broken will see further melt down with fresh shorts building up in the system.
Intra-day traders may go long if Nifty trades above 6670 with stop loss at 6660 and book profits at 6680 & 6703. Otherwise, they may play on the short side with stop loss at 6675 and book profits at 6647 & 6636.
Short-term traders may open fresh short positions if nifty breaks the support of 6624 with good volumes. Otherwise they may stay away.
Mid-term investors may consider buying Ambuja cement at 185.20 & Tata Motors at 414.15 in small quantities.
(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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