The market is still in a dangerous zone and a
breakout may occur today, the direction of which can not be predicted.
Therefore, we reiterate that as long as we are above 7482, all’s well for the
index in particular and market in general. Otherwise we are in for a bear
market.
That being said the intra-day traders
may go long if the benchmark index trades above 7669 with stop loss at 7655 and
book profit at around 7711. They may however, trade on the short side if the
Nifty trades below the 7632 mark in the wee hours of trade with stop loss at 7666
and book profit at around 7594.
The short-term traders may ride the longs,
which we presume that they might have added yesterday as per our advice in our previous post, with
stop loss at 7632.
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.
No comments:
Post a Comment