We continue to reiterate that the market
is safe and the intermediate term bull structure is intact for as long as the
benchmark index trades above 7582. Nifty might look dangerous at times due to
sharp cuts.
The intra-day traders may go long if the
benchmark index trades above 7678 mark with stop loss at 7660 and book profit
at around 7700 to 7716 levels. They may however, trade on the short side if the
Nifty trades below the 7640 mark with stop loss at 7670 and book profit at
around 7618.
The short-term traders may consider adding fresh long positions in Nifty in case of
intra-day weakness with stop loss at 7570. They are advised to hold on to the
Nifty 7700 and 7800 Calls of August series. They may also consider selling a
lot of Nifty 7700 Put of August series at 193.65 and buy one lot of Nifty 7500
Put of August series at 14.75. They may also consider buying Tata Steel at
556.40 for short term with strict stop loss at 546.
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.
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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