It was a great comeback in the previous
trading session although the comeback might be elusive and unless the immediate
resistance of 8038.65 is overcome, we are in a bearish short term trend with
the lower bound being at 7784.
The intra-day traders may go long if the
Nifty trades above 7982 mark and book profits around 8035. However if it trades
below the 7934 mark then they may short the nifty and book profit at 7900.
The short-term traders may open fresh
longs if the resistance of 8038.65 is conquered conclusively with good volumes.
They may open fresh shorts if it trades below 7899. They may also consider
going long in ITC if it trades above 376 with strict stop loss at 371.75.
Mid-term investors may stay away and
just sit in the side lines.
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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