9,350 Is Basic Stoploss On BSE, Says Vishwas Agarwal
Equities after ending buoyant yesterday, opened on a flat note in proportion to Asian peers.
The 30-share index, BSE Sensex, today (Feb 10) opened with a gain of 6.06 points, at 9,589.95. After few minutes of trading, it slipped into the negative terrain to again bounce back into the positive.
Realty stocks were the top gainers whereas metal and oil & gas stocks were flat with negative bias.
Asian stocks advanced on speculation fuel costs will decline, countering declines in the region by shares of commodity producers.
While commenting on the markets, technical Analyst Vishwas Agarwal stated that on the Bombay Stock Exchange (BSE), 9,350 is the basic stoploss for the current upmove.
He said that this upmove can go upto 9,687, 9,888 and 10,111 with the guidance of Reliance Industries, SBI, ICICI bank, ONGC and Reliance Infra.
All these stocks will set the trend as well as mood of the market.
“This week we will get profitable trading opportunities. No investment strategy will be viable, only trading in this market is advisable as we have to wait for some fundamental news like government formation and the monsoon situation,” Mr. Agarwal added.