The market seems to continue being in
the bearish grip and we reiterate that unless and until the immediate
resistance of 8038.65 is overcome conclusively with good volumes 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 7970 mark with stop loss at 7960 and book profits around 8035.
However if it trades below the 7948 mark then they may short the nifty and book
profit at 7905.
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.
Mid-term investors may watch Coal India which
seems to be on the verge of a breakout from the current range. A downside may
be utilized to accumulate the stock.
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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
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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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