The bullish structure is intact as long as the
Nifty stays above the support of 7582, an intermediate support being at 7689.
The benchmark index seems poised for new highs albeit with a bit of volatility
and sudden meltdowns.
That being said the intra-day traders
may go long if the benchmark index trades above 7765 with stop loss at 7740 and
book profit at around 7790. They may however, trade on the short side if the
Nifty trades below the 7740 mark in the wee hours of trade with stop loss at
7765 and book profit at around 7689.
The short-term traders may build the
instrument as per our advice in our previous post. (Click here to check it )
Mid-term investors may consider buying
L&T at 1451.70 and ONGC at 376.95 in small quantities.
(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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