The settlement blues brought about the
meltdown yesterday with the Nifty headed towards the 7784 mark which happens to
be the lower bound for this bull market. We had been constantly advocating
caution in our earlier posts as in this type of structure with leaders in consolidation
mode the bulls and bears are caught alike.
The intra-day traders may go long if the
Nifty remains above 8061 and book profits around 8100. However if it trades
below the 8014 mark then they may short the nifty and book profit at 7970.
The short-term traders may buy lots of Nifty
8400 puts of October series in case if the Nifty trades above the 8270. In case
of another meltdown they may buy Nifty 7900 Calls of October series if it
trades down around 7800 levels.
Mid-term investors may consider buying
Coal India at 325.95 and 318.70 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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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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