The immediate support of 8554 did hold
in the previous session on closing basis.
The intra-day traders may go long if the
Nifty trades above 8593 with stop loss at 8574 to book successive profits around
8630. However if it trades below 8557 in the wee hours of trade, then they may play
it on the short side and book successive profits at around 8530.
The short-term traders may continue to
ride their longs raising their trailing stop loss to 8503. At the same time
they may hedge their longs by selling Nifty 8700 Calls of December series at
102.25.
The mid-term investors may consider
exiting Bank of India by offering it at 318.55 and bid for Bank of Baroda at
1040.90, LIC Housing Finance at 407 and Marico at 310.05; all these stocks in
small quantities. It may be noted that the bids and offers are for the whole of
next week.
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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