The market continues to be in its
bullish mode with a little more space on the upside but we reiterate that one
may apply a bit of caution at this stage by buying Nifty puts once the market
starts trading above around 8485 levels.
The intra-day traders may go long if the
Nifty trades above 8352 with stop loss at 8340 and book profit around 8380. However
if it trades below 8322, then they may play it on the short side and book
profits at around 8290.
The short-term traders may continue to
ride Bank of Baroda and even consider adding more long positions in the stock and raise their trailing
stop loss to 950. They may also consider going long in ITC with strict stop
loss at 365. They must have noticed how Gateway Distriparks, recommended by us,
performed in the previous session. They may consider booking profit in this
counter by exiting it at around 317.95.
The mid-term investors may consider buying
Federal Bank at 141.05 and 131.10 and LIC Housing Finance at around 372.80,
both stocks 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.
Feel
free to write to us for our free advice regarding the stocks which you
already hold in your portfolio. Kindly send the quantity and price at which you
bought them. Much better, subscribe by email. It is free. And, what is more, we
do not disclose your IDs or portfolio.
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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