F&O cues: Nifty heading towards 5800, sell on every rise

Stock markets edged lower with 50-share Nifty stuggling near 5,900 levels on back of selling pressure witnessed in rate-sensitive shares.

In such a scenario, how should one trade in the near-term?

Check out the trading strategies with Navneet Daga, Derivative Analyst, KR Choksey Securities.

Smartinvestor : Markets have dropped significantly since the announcement of the RBI policy. How do you see the trend going forward?

Navneet Daga : Well now from on, since most of the big events in markets have passed through, we beliive markets volatility to calm down and markets to form trading range from here on. Downside looks possible towards 5800 levels in near term.

Smartinvestor : Nifty put to call ratio has dropped further. Would you recommend investors to sell if we see any short-covering going ahead?

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