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Below the Quote on How to approach markets post results ?  by Mr Shrey Jain Founder and CEO SAS Online - India’s Deep Discount Broker

The Nifty 50 index has closed below the upward trending channel today. Though 21,800 was defended today, a move below today’s low 21,281, which coincides with 200DEMA, should be watched out for adding short positions. Traders should avoid aggressive directional trades in either direction. Fresh long can be initiated above 22,200 for higher targets up to 22,800. On the lower side Nifty may touch 21,000 and 20,600.

Similar is the case with the Bank Nifty Index. Fresh longs should be initiated above 47,700 for targets of 48,300 and 49,700. Shorts can be initiated below 45,900. It may correct to 44,000. Avoid buying a stock just because it has fallen in a big way, say 15-20%. Stick with a large and quality mid cap. If you are not sure about the direction of the price of the security you are trading, then it is better to wait for the trend to emerge.

For investors, interim volatility can be capitalized buy accumulating units of exchange traded funds tracking Nifty 50 index or Nifty50 Value 20 (NV20) index.

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