A little more headroom seems to be there but
the index might show wild cuts in the wake of the impending settlement of July
series on July 31.
The intra-day traders may trade on the
long side with stop loss at 7790 and book profit at around 7850.
The short-term traders may add long
positions and raise their stop loss to 7687. They may also consider placing bid
for a lot of Nifty 8000 Put of August series at 114.30.
Mid-term investors may stay away for now
as no clear cut signal for buying for investment purposes is coming. They are
advised to 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 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.
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