On the Indian Stock Markets. December 2.

The market did surge like a bull in last trading session and the outlook for the immediate trades has turned optimistic. The next key resistance is at 6202 which in all likelihood must be conquered conclusively sooner or later.

That being said, the key point for trades today is at 6154 and Nifty will remain bullish above this point with resistances at 6204, 6232 and 6283. Otherwise i.e. if it trades below the 6154 mark, then it will loose a bit of steam with supports at 6125, 6075 and 6047.

Intra-day traders may trade on the long side if Nifty trades above the 6154 mark in the opening hour of trades with stop loss at 6154 itself. Otherwise they may short the market with stop loss at 6202.

Short-term traders may go long in Nifty at lower levels with stop loss at 6052. They may also go long in ONGC with strict stop loss at 285

Mid-term investors may sell 10% of their holdings in Tata Steel @ 411.25. 

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.

On the Indian Stock Markets. November 27.

As we had been emphasizing that we are not out of woods, the market did loose considerable ground yesterday with MACD indicating a bit of downside.

That being said, the key point for today is at 6073 and Nifty will have to convincingly trade above this point for any hope for bulls, in which case the resistance will be at 6098, 6138 and 6163. Otherwise, it will go down with supports at 6033, 6008 and 5968.

It may be understood that all positions should be taken in the December series.

The intra-day traders are advised to go long if it trades above 5973 in the initial hour of trade with stop loss at 6065 and go short below 5973 with stop loss at 6095.

Short-term traders may watch for the 6030 support. If Nifty slides below this point then they may short the market, if this holds then they may go long with stop loss at 6020.

Mid-term investors may buy stocks at rates given in our previous two posts.

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.