Tips for traders and investors in the Indian Stock Markets for October 13 2014.

As envisaged in our previous post, the bounce back of Thursday the 9^th was not convincing and the benchmark may be safely assumed to be in a bearish phase with the upper bound at 8028. The nifty is once again on dangerous ground and if the immediate support of 7820 gets compromised then we are well into a longer bearish trend with Nifty heading towards the supports of 7784, 7711 and 7524.

The intra-day traders may go long if the Nifty trades above 7878 mark and book profits around 7895. However if it trades below 7865, then they may play it on the short side and book profits at 7830.

For the short-term traders, the market has turned into a sell on every rise i.e. they may short the index with strict stop loss at 8028.

Mid-term investors may consider selling 10 % of their holdings in each of Tata Steel at 483.35, Maruti at 3021.60, L&T at 1545.25, ITC at 371.55 and HCL Tech at 1733.85.

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