Trading & Investing Tips for the Week March 2 2015 to March 6 2015

The readers of this blog might have noticed that the soon as our support of 8830 got breached in the opening session of last week, the benchmark index nosedived down to 8669.45 and as the rock support of 8639 did not get broken, the Nifty remained in bullish mode and then soon after our resistance of 8880 got conquered in the previous trading session, the Nifty turned bullish and went up to 8941.1 (we had indicated 8941 in our previous post) before closing the week at 8901.85.

The Nifty will remain bullish as long as the 8865 mark holds and will head towards new highs with intermediate resistances at 8945.80, 8975.15, 9030.70 and 9053.45.    However, if it slips below the 8819 mark then we are in for another bout of a sell off with the index headed towards 8639 with intermediate supports at 8773, 8755, 8732, 8697 and 8666.

The day traders and short term traders may trade go long with stop loss at 8865 and go short if it falls below 8802 with stop loss at 8819. If resistances are conquered with good volumes they may add long positions and if the supports are broken with volumes they may add short positions.

We advise mid-term investors to sell the non-performers in their portfolio i.e. they may sell all those stocks that are running at loss.

They may consider buying Coal India with stop loss at 379.75 in small quantities. 

They may also consider investing in Birla Sun Life Top 100 (G) with an investment horizon of  at least two years.

The Stock Markets will remain closed on March 6 2014.

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.