The support of 7983 was taken out in the
previous session and we are on our way towards the next support of 7784. The
immediate resistance now is at 8008.
The intra-day traders may go long if the
benchmark index trades above 7970 and book profits around 7983. However, if the
index trades below 7955, then they may play it on the short side and book
profits at around 7890.
The short-term traders may continue to
ride their short positions with strict stop loss at 8008.
Mid-term investors may just wait in the
sidelines and watch.
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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