The upward journey continued unabated for
the third day in a row. However, one may expect a bit more of consolidation
albeit with an upward bias.
Intra-day traders may go long if the Nifty
trades above 7780 mark with stop loss at 7770 and book profit at 7810. However,
if the benchmark index trades below 7770 mark, then they may short the Nifty
with stop loss at 7780 to cover shorts at around 7766 and 7742.
The short-term traders may add long
positions in Nifty in case of weakness. They may also raise their stop loss for
the long positions they have been carrying to trade on the long side with stop
loss at 7711. They may also consider buying Nifty 7900 puts of July 2014 at 138.15.
Mid-term investors may consider buying
Coal India at 388.15 and Bank of Baroda at 849.65.
(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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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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