Tips for traders and investors in the Indian Stock Markets for the week November 24 2014 to November 28 2014

Our intermediate support of 8353 as specified in our previous post held and Nifty bounced back to hit an all time new high. But still we are a bit apprehensive about the market on account of the impending settlement of November series due this week on November 27 2014. However, any breakdown below 8366 during the week will see the return of bears taking the benchmark index down to 8016 in which case the meltdown may be utilized to buy key stocks at the prices we have specified or will specify in this space.

The intra-day traders may go long if the Nifty trades above 8482 with stop loss at 8455 to book successive profits around 8510, 8533 and 8600. However if it trades below 8405, then they may play it on the short side and book successive profits at around 8385 and 8366.

The short-term traders may now start trading in the December series on the short side by buying Nifty puts in small lots every time the Nifty rises.

The mid-term investors may consider exiting Bank of India by offering it at 289.5 and 318.55 and bid for Bank of Baroda at 1028.40, & 979.20, LIC Housing Finance at 392.05 & 367.75 and Marico at 318.55; all these stocks in small quantities. It may be noted that the bids and offers are for the whole of next week.

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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.