Finally the leaders have come to fore taking the benchmark index, Nifty to 8389 breaking all the interim resistances. The resistance now is at 8415, 8458 and 8512.
A detour on this recent moves. The upside, it may be noted, may be tempting (temptation is all what the greed is all about), what matters is the support, for a breach of support translates into losses. The immediate support for Nifty is at 8347. The Nifty must trade above 8365 in order for it to perform any further.
The mid term investors have a great opportunity coming. They may consider subscribing to this post via email to get the opportunities and so may the short term traders.
As for the intra-day traders, they may consider going long in Nifty futures if the spot nifty trades above 8370 to book profits when it trades at around 8400. On the flip side they may short the Nifty futures if the spot Nifty trades below 8355 to cover their shorts when the spot Nifty trades around 8338.
One more thing- there have cropped up some excellent opportunities in Indian market which will win by more than 24% in a matter of weeks. Those interested may subscribe through email.
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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