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.
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