The market behaved quite in expected
lines and as we had posted in our previous post, the bulls did take command of
the market in the previous session and the benchmark index did hit an all time
high. However, the momentum is lacking a bit and market will edge upwards in
the coming sessions with a somewhat drag.
Intra-day traders may go long if the
Nifty trades above 7728 mark with stop loss at 7708 and book successive profits
at 7740 and 7762. However, if the benchmark index trades below 7697, then they
may short the Nifty with stop loss at 7715 to cover shorts at around 7690.
The short-term traders may add to their
long positions in case of weakness with stop loss at 7577. They may also
consider going long on Tata Motors, if they haven’t already as per our advice
in previous post with strict stop loss at 440 and L&T with stop loss at
1715.
Mid-term investors may consider buying
Coal India at 388.15 and ONGC at 415.25
(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
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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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