After a lot of hesitation in the first few
hours, the sentiment improved in the previous session in the latter half. It
can be safely concluded that the market is out of danger for the day, though it
will consolidate with positive bias in the session.
The intra-day traders
may go long if the benchmark index trades above 7715 mark with stop loss at
7698 and book profit at around 7780. They may however, trade on the short side if
the Nifty trades below the 7690 mark in the wee hours of trade with stop loss
at 7715 and book profit at around 7654.
The short-term traders may continue to ride
their longs and may consider adding fresh long positions in Nifty in case of
intra-day weakness with stop loss at 7650. They are advised to hold on to the
Nifty 7700 and 7800 Calls of August series which we presume they might have
bought as per our recommendation in an earlier post.
Mid-term investors may consider buying
L&T at 1451.70 and ONGC at 376.95 in small quantities.
A lot of people have lost a lot of money in Capital markets due to their need to get rich quickly and their innermost desire to gamble, to feel the consequent emotional excitement, over which they have no control. The sole intention of sharing this link is to guide such people by helping them in minimising their losses.
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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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