Tips for traders and investors in the Indian Stock Markets for July 1 2014.

The Nifty seems to have broken out of the current congested range it had been languishing in for the past few trading sessions.

Intra-day traders may go long if the Nifty trades above 7615 mark with stop loss at 7600 and book profits successively at 7642 and 7675. However, if the benchmark index trades below 7588, then they may short the Nifty with stop loss at 7601 to cover shorts at around 7566.

The short-term traders may go long with stop loss at 7523 They may also consider going long on HCL Tech in case of weakness in this counter with stop loss at 1462.

Mid-term investors may consider buying Maruti at 2418.65 and ONGC at 414.05.

(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 them. 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.

Tips for traders and investors in the Indian Stock Markets for June 30 2014.

The Nifty continues to remain in a consolidation phase with a positive bias for as long as the support of 7400 holds.

Intra-day traders may go long if the Nifty trades above 7520 mark with stop loss at 7510 and book profits successively at 7536 and 7566. However, if the benchmark index trades below 7501, then they may short the Nifty with stop loss at 7511 to cover shorts at around 7481.

In case of weakness, the short-term traders may add long positions stop loss to 7400.

Mid-term investors may consider buying Tata Steel at 507.75.

(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 them. 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.

Tips for traders and investors in the Indian Stock Markets for June 27 2014.

Once again, the only positive takeaway was that the support of 7490 held in the previous session on the closing basis. It may be remembered that as long as the rock support of 7400 holds, the markets will remain in consolidation phase with a positive bias.

Intra-day traders may go long if the Nifty trades above 7536 mark with stop loss at 7510 and book profits successively at 7546 and 7579. However, if the benchmark index trades below 7489, then they may short the Nifty with stop loss at 7515 to cover shorts at around 7459.

In case of weakness, the short-term traders may add long positions stop loss to 7400.

Mid-term investors may consider buying Tata Steel at 507.75.

(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 them. 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.

Tips for traders and investors in the Indian Stock Markets for June 26 2014.

Today being the settlement day, a spike in either direction cannot be ruled out, though a bullish breakout seems imminent.

Intra-day traders may go long if the Nifty trades above 7582 mark conclusively with stop loss at 7570 and book profits successively at 7604. However, if the benchmark index trades below 7560, then they may short the Nifty with stop loss at 7575 to cover shorts at around 7540.

Short-term traders may continue to add long positions in the July series, in case of weakness with stop loss to 7495.

Mid-term investors may stay away from the market today.

(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 them. 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.

Tips for traders and investors in the Indian Stock Markets for June 25 2014.

But for the settlement of the June Future and Options series, which is due on June 26 2014 and the technical indicators still indicating a bit of lag, the benchmark index did turn in favour of the bulls in the previous session. It cannot therefore be safely assumed that we are out of woods yet, even though the bullish structure is intact. Volatility cannot be ruled out either.  7605 must act as an immediate resistance and 7496 as support. Beyond these points the nifty will spike up or down respectively.

Intra-day traders may go long if the Nifty trades above 7568 mark conclusively with stop loss at 7549 and book profits successively at 7601 and 7631. However, if the benchmark index trades below 7549, then they may short the Nifty with stop loss at 7562 to cover shorts at around 7499.

Short-term traders following our advice in previous posts must be riding huge profit making positions. They may continue to add long positions in the July series raising their stop loss to 7495.

Mid-term investors may stay away from the market today.

(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 them. 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.

Tips for traders and investors in the Indian Stock Markets for June 24 2014.

The Nifty behaved quite in expected lines as it weakened down to 7441.6 but remained inconclusive as the support of 7490 remained unbroken on the closing basis. It may however be kept in mind that the settlement of the June Future and Options series is on June 26 2014 and the benchmark index may turn volatile.  

Intra-day traders may go long if the Nifty trades above 7502 mark conclusively with stop loss at 7485 and book profits successively at 7515 and 7543. However, if the benchmark index trades below 7466, then they may short the Nifty with stop loss at 7490 to cover shorts at around 7445 and 7422.

Short-term traders may start taking long positions in the July series in case of weakness at with stop loss at 7400.

Mid-term investors may consider buying Coal India at 380.70, ONGC at 407.70 and Tata Steel at 507.95.

(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 them. 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.

INR- USD technical analysis for the week 23 June 2014 to 27 June 2014.

After a sustained period of strength in the USD, the technical indicators suggest that of late it is giving up against the INR, even if for a brief spell. However, the overall bullish structure of the USD is intact as yet.

The INR will stay weak against the USD for as long as it trades above the 59.301 mark in which case it might flare up to as much as 61.599.

Traders are advised to go long on USD with stop loss at 59.291 and book profits at 60.535. They may also consider adding fresh long positions if the USD trades above 61.612 mark and ride it with stop loss at 60.599.

They may consider buying INR only if it trades conclusively below 59.167.

Disclaimer: The writers of this column do not personally hold any position in the currency 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.

Tips for traders and investors in the Indian Stock Markets on June 23 2014.

The only positive takeaway from the previous session was that the support of 7490 held, otherwise the market remained weak. 

We are at a critical juncture and any further weakness may lead it towards the rock support of 7400. It can be safely assumed that the bull structure is preserved unless and until the support of 7400 breached. Below 7400, however, one may expect the beginning of an intermediate bear market. On the other hand fresh longs will appear if the Nifty conclusively conquers the resistance of 7625 conclusively.

Intra-day traders may go long if the Nifty trades above 7536 mark conclusively with stop loss at 7520 and book profits successively at 7564 and 7599. However, if the benchmark index trades below 7508 then they may short the Nifty with stop loss at 7525 to cover shorts at around 7490 and 7465.

Short-term traders may start taking long positions in the July series in case of weakness at or below 7490 mark with stop loss at 7415.

Mid-term investors may consider buying Coal India at 380.70, ONGC at 407.70 and Tata Steel at 507.95.

(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 them. 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.

Tips for traders and investors in the Indian Stock Markets on June 20 2014.

The market continues to be in consolidation mode with positive bias but with the shadow of settlement of June series looming large on account of which sharp moves in either direction cannot be ruled out.

Intra-day traders may go long if the Nifty trades above 7567 mark conclusively in the with stop loss at 7545 and book profits successively at 7594. However, if the benchmark index trades below 7537 then they may short the Nifty with stop loss at 7553 to cover shorts at around 7525 and 7495.

Short-term traders may start taking long positions in the July series in case of weakness at or below 7490 mark with stop loss at 7415.

Mid-term investors may consider buying ONGC at 407.70 and Tata Steel at 507.95.

(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 them. 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.

Tips for traders and investors in the Indian Stock Markets on June 19 2014.

Yesterday’s trading session saw bulls retreating as the resistance of 7620 remained unconquered, and the benchmark index fell down to 7515.50 before closing at 7558, which signifies that we are not out of the woods yet. A bit of volatility in either direction trapping bulls and bears alike cannot be ruled out in the immediate term and more so in light of the settlement next week.

Intra-day traders may go long if the Nifty trades above 7584 mark conclusively with stop loss at 7572 and book profits successively at 7603 and if it trades above 7620, then they may unwind their longs at 7642. However, if the benchmark index trades below 7551 then they may short the Nifty with stop loss at 7578 to cover shorts at around 7519 and 7494.

Short-term traders may get out of all their positions today in the current June series and start taking positions in the July series. They may go long if the benchmark index weakens down to the 7490 mark with stop loss at 7415.

Mid-term investors may wait and watch today and stay tuned to this blog for if we find any stock worth buying we will publish in a subsequent post today.

(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 them. 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.

Tips for traders and investors in the Indian Stock Markets on June 18 2014.

Those following our advice might have noticed how effective our calculated supports, resistances and stop losses are in deciding the immediate course of action. (Click here to see the previous post)

Today’s trades will decide the direction of immediate trend with 7620 being the key point as this resistance was conquered only in the closing hour of trade yesterday. If Nifty manages to trade above this point conclusively today, then one may safely assume that the bulls are back.

Intra-day traders may go long if the Nifty trades above 7620 mark conclusively in the initial hour of trade with stop loss at 7590 and book profits successively at 7672 and 7698. However, if the benchmark index trades below 7575 then they may short the Nifty with stop loss at 7595 to cover shorts at around 7558 and 7544.

It is understood that the short term traders must have opened fresh long positions in Nifty as per our guidance in the previous session. They may ride the longs with stop loss at 7575.

Mid-term investors may wait and watch today and stay tuned to this blog for if we find any stock worth buying we will publish in a subsequent post today.

(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.

Tips for traders and investors in the Indian Stock Markets on June 17 2014.

The Nifty did trade in the expected lines as we had stated in our previous post taking support at 7487.55, our stated support was at 7490. Those who traded as per our guidance must have profited. However the markets remained inconclusive by the end of the session.

Intra-day traders may go long if the Nifty trades above 7539 mark conclusively in the initial hour of trade with stop loss at 7520 and book profits successively at 7555 and 7605. If, however, it trades above 7620 mark then they may open fresh long positions. However, if the benchmark index trades below 7510 then they may short the Nifty with stop loss at 7530 to cover shorts at around 7490.

Short-term traders may short Nifty if it goes up with stop loss at 7630 and cover the shorts again at 7490. Fresh shorts may be opened if the benchmark trades below the 7480 mark conclusively with good volumes to cover them at around 7415. However, they may go long if the Nifty conquers the immediate resistance of 7620 conclusively with good volumes and ride the longs.

Mid-term investors may consider adding Tata Steel at 507.70 and L&T at 1625.45 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.

Tips for traders and investors in the Indian Stock Markets on June 16 2014.

A breakout did come in the last trading session albeit in the negative once the Nifty dipped below the support of 7630 and those who traded as per our guidance must have made good profits.

The benchmark index seems to have entered an intermediate bearish trend unless and until it bounces back in today’s trading session and conquers the immediate resistance of 7620. Otherwise it is headed towards the immediate support of 7490.

Intra-day traders may go long if the Nifty trades above 7584 mark conclusively in the initial hour of trade with stop loss at 7557 and book profits successively at 7617 and 7630. If, however, it trades above 7639 mark then they may open fresh long positions. However, if the benchmark index trades below 7578 then they may short the Nifty with stop loss at 7585 to book profits at around 7490.

Short-term traders may take fresh shorts in case the Nifty goes up with stop loss at 7620 to cover them at 7490. If the Nifty goes below  7490 mark conclusively then they may add fresh shorts  to cover them at around 7415.

Mid-term investors may consider adding Tata Steel at 507.70 and L&T at 1625.45 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.

Tips for traders and investors in the Indian Stock Markets on June 13 2014.

Once again a breakout seems imminent, possibly on the upside, as the bullish undertone continues to be strong. But it all depends much on whether the immediate resistance of 7657 (the resistance indicated in our previous post was 7657; Nifty was stopped at 5658 yesterday) gets conquered conclusively.

Intra-day traders may go long if the Nifty trades above 7630 mark conclusively in the initial hour of trade with stop loss at 7615 and book profits at around 7670 and 7695. If, however, it trades above 7698 then they may ride it till 7749. However, if the benchmark index trades below 7630 in the initial hour of trade then they may short the Nifty with stop loss at 7639 to book profits at around 7610 and 7574.

Short-term traders may continue to ride long positions and may consider adding further positions in case of weakness with stop loss at 7570.

Mid-term investors may consider selling the non-performers in their portfolio and also consider adding ONGC at 408.05 and L&T at 1694.05 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.

Tips for traders and investors in the Indian Stock Markets on June 12 2014.

As indicated in our previous post the new high was sold into and buying emerged with weakness. The intraday traders following this blog might have made a killing both ways, i.e. both on the upswing and downswing.

The bullish undertone continues to be strong.

Intra-day traders may go long if the Nifty trades above 7628 mark conclusively in the initial hour of trade with stop loss at 7610 and book profits at around 7657 and 7688. If it holds above 7657 in the wee hour then they may play on the long side with stop loss at 7638. However, if the benchmark index trades below 7610 then they may short the Nifty with stop loss at 7639 to book profits at around 7577.

Short-term traders may continue to ride long positions and may consider adding further positions in case of weakness with stop loss at 7570. They may also consider buying lots of 7800 Puts of Nifty of June series by placing bid at 88.75.

Mid-term investors may consider selling the non-performers in their portfolio and also consider adding ONGC at 408.05, L&T at 1694.05 and Tata Steel at 507.65 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.

Tips for traders and investors in the Indian Stock Markets on June 11 2014.

The market did consolidate in the previous session as we had indicated in our previous post and closed flat. Bullish headroom is very much still in place, though the benchmark index may consolidate a little more in the immediate term with new highs being sold into and any weakness being bought.

Intra-day traders may go long if the Nifty trades above 7633 mark conclusively in the initial hour of trade with stop loss at 7612 and book profits at around 7695 and 7718. However, if the benchmark index trades below 7633 then they may play on the short-side with stop loss at 7639 to book profits at around 7598 and 7568.

Short-term traders may continue to ride long positions and may consider adding further long positions in case of weakness with stop loss at 7568. They may also consider buying lots of 7800 Puts of Nifty of June series by placing bid at 105.75.

Mid-term investors may consider selling the non-performers in their portfolio and also consider adding ONGC at 428.90 and 408.05 and L&T at 1694.05 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.

Tips for traders and investors in the Indian Stock Markets on June 10 2014.

A bit of consolidation with optimistic bias seems to be in order in the near term.

Short-term traders may go long if the Nifty trades above 7658 conclusively in the initial hour of trade with stop loss at 7636 and book profits at around 7692 and 7720. However, if the benchmark index trades below 7636 then they may play on the short-side with stop loss at 7646 to book profits at around 7605.

Short-term traders may continue to ride longs and may consider adding further positions in case of weakness with stop loss at 7560. They may also consider buying lots of 7800 Puts of Nifty of June series by placing bid at 105.75.

Mid-term investors may consider selling the non-performers in their portfolio.

(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.

Tips for traders and investors in the Indian Stock Markets on June 9 2014.

The market continues looks very much in a bullish mode with no signs of cracking up visible. A bit more of optimism cannot be ruled out with possible scaling of new all time highs in near term.

Short-term traders may go long if the Nifty trades above 7455 in the initial hour of trade today with stop loss at 7542 and book profits at 7588 and 7610. However, if the benchmark index trades below 7550 then they may go short with stop loss at 7560 to book profits at 7533.

Short-term traders may continue to ride longs and may consider adding further positions in case of weakness with stop loss at 7449.

Mid-term investors may consider adding ONGC at 454.05 and 438.85 and Tata Steel at 553.40.

(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.

Tips for traders and investors in the Indian Stock Markets on June 6 2014.

The market continues to be strong headed towards new highs in near term.

Short-term traders may go long if the Nifty trades above 7442 in the initial hour of trade today with stop loss at 7430 and book profits at 7498. However, if the benchmark index trades below 7425 then they may go short with stop loss at 7440 to book profits at 7395.

Short-term traders may continue to ride longs and add further positions with stop loss at 7410.

Mid-term investors may consider adding Bank of Baroda at 862.55 and Coal India at 377.85.

(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.

Tips for traders and investors in the Indian Stock Markets on June 5 2014.

A little leg up seems possible in the immediate term with the bullish structure being intact.

Short-term traders may go long if the Nifty trades above 7417 with stop loss at 7390 and book successive profits at 7430 and 7450. However, if the benchmark index trades below 7390 then they may go short with stop loss at 7410 to book profits at 7384 and 7367.

Short-term traders may continue to ride longs and add further positions with stop loss at 7290.

Mid-term investors may consider adding Bank of Baroda at 860.75 and Coal India at 377.85.

(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.

Tips for traders and investors in the Indian Stock Markets on June 4 2014.

The resistance of 7393 did get conquered signifying that bulls are back.

Short-term traders may go long if the Nifty trades above 7400 with stop loss at 7390 and book successive profits at 7440 and 7470. However, if the benchmark index trades below 7485 then they may go short with stop loss at 7400 to book profits at 7365 and 7300.

Short-term traders may continue to ride longs and add further positions with stop loss at 7290.

Mid-term investors may consider adding Bank of Baroda at 858.30, Coal India at 377.45.

(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.

Tips for traders and investors in the Indian Stock Markets on June 3 2014.

The Nifty behaved quite in expected lines as we had predicted in our previous post and once it had conquered the resistance of 7275, there was no looking back. However, it may not be construed that the bulls are back and we are out of the woods till the next resistance, which is at 7393, gets conquered.

With that in mind, the intra-day as well as short-term traders may continue to ride their longs with stop loss at 7274 and get out around the 7393 levels. However, if the 7393 level is conquered conclusively, then they may add fresh longs. But if the Nifty breaches the support of 7274, then they may open shorts.

Mid-term investors may consider adding HCL Tech at 1332.05.

(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.

Tips for traders and investors in the Indian Stock Markets on June 2 2014.

The breakout albeit into the negative territory, as we had predicted in our earlier post, turned out to be true. Any hopes for return of bulls will be dashed if the Nifty does not conquer the resistance of 7275, in which case we are headed towards 6969 in the intermediate term.

With that in mind, the intra-day traders may go short if the Nifty trades below the 7234 mark with stop loss at 7256 to book profits at 7182. However if it trades above the 7250 mark conclusively, then they may go long with stop loss at 7238 to book profit at 7275.

Short-term traders may short the market if Nifty does not conquer the resistance of 7275 conclusively.

Mid-term investors may just wait and watch.

(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.