With the key support of 7369 broken, things do not seem to augur well for the bulls and it looks like the Nifty is again headed towards 7150 if the Nifty does not bounce back from hereabouts.
The intraday traders may go long only if the Nifty manages to trade above 7300 and unwind around 7320. Otherwise they may play it on the short side to cover at 7271 or 7225 as the case may be.
The short-term traders may play shorts for the possible target of 7150 with stop loss at 7425. They may also consider going long in Asian Paints with stop loss at 870 for a possible target of 903.55.
The mid-term investors may consider selling Lupin at around 1990 and 2065 in small quantities.
They may also bid for Nifty ETF at 712.33 and Asian Paints at 877.60 and 857.15 in small quantities.
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