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.
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