Trade With Caution, Says Vishwas Agarwal
Continued buying interest in key stocks, firm worldwide cues and upbeat results of the companies led the Sensex to achieve a new peak of 19,095.75.
On this technical analyst, Vishwas Agarwal, said, “Ultimately our long awaited 5,678 was acheived today on NSE. Here I will take some rest, but there is a lot of opportunity for traders and also there are options in some stocks.”
Showing some worry, Mr. Agarwal said, “Heavy long position with mid and short term view looks little bit cautious because the 19,000 level carries some kind of risk. Also, any negative news can hurt the sentiments and the market badly.”
He further said, “I am not at all bearish, I am just little bit concerned.”
Waning capitalists, he said, “Do trading but do so please with caution and safety, because this is a kind of market which always pays good returns. Avoid short sell, until some bad news comes into the market.”
Vishwas said, “From these levels there is no new target. It is possible that market will consolidate here.”
He has suggested RPL, Yes Bank, Unitech, Cairn India, S Kumar Nation and Spanco India for trading. But, he warned investors to invest only after watching international market.