There seems to be a breakout above the crucial resistance of 8501 yet the Friday trades will confirm the breakout; we are yet however apprehensive due to a typical volatility that has set into the market and as of now only suggests that it is but a sell on rise market.
With that in mind, the intra-day traders may go long only if the index trades above the 8595 mark to book profits at around 8632. They may however, go short of the index trades below the 8575 mark to book profit at around 8565.
The short-term traders may go long with strict stop loss at 8560. They may go long in Axis Bank with strict stop loss at 592 with a possible target of 645.50 (the target may be revised in our next post but the technicals suggest a bull run)
The mid term investors may continue selling Tata Motors at 401.95 and 403.95 in small quantums. They may consider buying HDFC Bank at around 1110 to 1102 points, Axis Gold at 2383.95, sell bank of Baroda at 160.10, sell Federal Bank around 79.20, offer HDFC Bank at 1143.85, bid Idea at 174.30 and Lupin with stop loss at 1890 with an immediate target of 2157.20.
A WORD OF CAUTION THOUGH THAT ONE OUGHT BE NIMBLE FOOTED AT THIS POINT OF TIME AS WE ARE UNABLE TO RULE OUT VOLATILITY IN MARKET WHICH MIGHT AS WELL TRAP THE NAIVE. BE CAREFUL GUYS.
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.
With that in mind, the intra-day traders may go long only if the index trades above the 8595 mark to book profits at around 8632. They may however, go short of the index trades below the 8575 mark to book profit at around 8565.
The short-term traders may go long with strict stop loss at 8560. They may go long in Axis Bank with strict stop loss at 592 with a possible target of 645.50 (the target may be revised in our next post but the technicals suggest a bull run)
The mid term investors may continue selling Tata Motors at 401.95 and 403.95 in small quantums. They may consider buying HDFC Bank at around 1110 to 1102 points, Axis Gold at 2383.95, sell bank of Baroda at 160.10, sell Federal Bank around 79.20, offer HDFC Bank at 1143.85, bid Idea at 174.30 and Lupin with stop loss at 1890 with an immediate target of 2157.20.
A WORD OF CAUTION THOUGH THAT ONE OUGHT BE NIMBLE FOOTED AT THIS POINT OF TIME AS WE ARE UNABLE TO RULE OUT VOLATILITY IN MARKET WHICH MIGHT AS WELL TRAP THE NAIVE. BE CAREFUL GUYS.
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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