See Nifty drift towards 6120; bullish on LT: Alphative

Written By Unknown on Selasa, 07 Januari 2014 | 18.01

Jan 07, 2014, 04.10 PM IST

According to Paul, if someone wants to go short on the Nifty or the Bank Nifty he must trail the stop losses on the downside and wait for 6120, where one can book some profits.

Tags  Abhijit Paul, Nifty, smallcaps, midcaps, stop losses, Larsen and Toubro

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See Nifty drift towards 6120; bullish on L&T: Alphative

According to Paul, if someone wants to go short on the Nifty or the Bank Nifty he must trail the stop losses on the downside and wait for 6120, where one can book some profits.

Like this story, share it with millions of investors on M3

See Nifty drift towards 6120; bullish on L&T: Alphative

According to Paul, if someone wants to go short on the Nifty or the Bank Nifty he must trail the stop losses on the downside and wait for 6120, where one can book some profits.

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The benchmark indices are likely to close the day in red for the fifth straight session led by shares of software exporters and lenders. Abhijit Paul, founder, Alphative Advisors believes the downward move has been led by the largecaps and sees 6100-6120 as the level for Nifty Future.

According to Paul, if someone wants to go short on the Nifty or the Bank Nifty he must trail the stop losses on the downside and wait for 6120, where one can book some profits.
However, in case of longs, there is not much strength except the ones in the smallcaps and midcaps, but within the large cap Nifty 50 stocks,  Larsen and Toubro (L&T) stands out, he adds.


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Sudarshan Sukhani

s2analytics.com

Nifty drifts lower, breaks below 6200; signs indicate a mild correction has started

The Nifty is probably in a decline which is a correction of the ongoing up move. A correction is always difficult to trade. The reason is simple: the corrective move is against the primary trend. So the correction is actually fighting the main trend. Therefore, traders encounter choppiness when trading inside a corrective move.

Bank Nifty closed at its support. A move below the support level will give us shorting opportunity in Banking Stocks. CNX IT is outperforming the Nifty; IT Stocks are giving buying opportunities. We have GOLD in METALS. Prices are forming a base at its bottom. A breakout will give us a trading opportunity in GOLD. Then we have CEMENT Sector. The sector is consolidating at the top and prices are trading near the support. Stocks in focus include SUNPHARMA & HINDPETRO. For each of these stocks, we analyze their technical picture; identify trades with stop loss and targets. At the end we have JPY-INR currency pair. Read full report »


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