The Nifty did exhibit considerable strength as it went about conquering the resistance of 8795 conclusively in the previous session and we expect all the readers of the previous post must have exited all long positions in Nifty. It can now safely be assumed that unless and until Nifty conclusively slips below the 8795 mark, it will continue to be in consolidation mode with a positive bias inching gradually towards new all time highs.
The intra-day traders may consider going long in Nifty if it trades above the 8810 mark to book profits at around the 8855 mark. Otherwise they may go short to get out at 8795.
The short-term traders may open long positions in Nifty with strict stop loss at 8795. They may also go long in L&T at around 1794 with strict stop loss at 1780 for a possible target of 1850.
The mid-term investors may considering going long in Coal India with stop loss at 385.50 and Idea Cellular Ltd at 197.90. They may also exit Bank of India at 228.85.
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.
No comments:
Post a Comment