Below is the verbatim transcript of an interview aired on CNBC-TV18.
Q: There is no joy yet in trading the index?
A: Yes, no joy yet and it is also getting a little choppy. The idea yesterday, just before the close was that the market is holding on to support so maybe we should take some long positions. That may not work out in the morning so we will wait for an hour and if the market do not respond to support then the positions will be closed and we will come back to a flat situation in the Nifty and in the Bank Nifty. There is nothing there that justifies taking a long or short in any case. It was just a trade. Therefore, the focus remains on the individual stocks but the markets will not stay at standstill situation for long. We just have to have the patience. A decisive break below 5,950 levels by afternoon will give us impetus to take short positions.
Q: You are going short in big names like Larsen and Toubro (L&T)?
A: Yes, in fact there were other big names and I thought if I become so bearish then what will the Nifty do. The charts are not very conducive because a lot of the banks are also cracking down. L&T has been in a steady decline, nothing has been cheering up the stock price. It seems that a much stronger fall is imminent. Therefore, L&T is a short selling candidate, not just for today, it is also a short sell as a position trade until the Nifty does not start doing something else.
Also Read: Govt spend in infra space to pick up: L&T's Raman
Q: You are short on Sterlite Industries from the metals basket?
A: Sterlite is a positional short. We have discussed it a few days ago also. It made a bearish pattern. That was a distribution after a very small rally. It did not have a big rally but whatever it had that rally ended with a distribution pattern, a bearish head and shoulder is been confirmed. The stock price is now moving down, broken down. That breakdown is likely to be increasing as days go by. So, not just for today, it is also somebody who wants to buy a Put or take a positional trade on the short side; Sterlite is quite decent in that respect.
Disclosure: I have no holdings in the stocks discussed.
More to come
Anda sedang membaca artikel tentang
Have patience, Nifty will move soon: Sukhani
Dengan url
https://segarsaries.blogspot.com/2013/02/have-patience-nifty-will-move-soon.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Have patience, Nifty will move soon: Sukhani
namun jangan lupa untuk meletakkan link
Have patience, Nifty will move soon: Sukhani
sebagai sumbernya
0 komentar:
Posting Komentar