Tips for traders and investors in the Indian Stock Markets for September 16 2014.

As we had predicted in an earlier post we definitely are in a consolidation phase with the benchmark index slipping gradually down towards the immediate support of 7983 which if taken out will see another meltdown towards 7784. The leaders of the rally are cooling off. A bullish spike up to new highs doesn’t seem to be likely in the immediate future. The immediate resistance now is at 8122. All those who have believed in our researchand analysis must have gained by playing on the long side in Bank of Baroda and short side in Nifty. (check our advice here)

The intra-day traders may go long if the benchmark index trades above 8051 with stop loss at 8038 and book profits around 8069. However, if the index trades below 8041, then they may play it on the short side and book profits at around 8025.

The short-term traders may continue to ride their short positions with strict stop loss at 8122. They may also continue to ride long positions in Bank of Baroda and even add further long positions with stop loss at 918.

Mid-term investors may consider selling 10% of their holdings in each of Lupin at 1469.4 and Maruti at 3025.65. They may also consider adding Coal India to their portfolio at 346.3.

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.