The settlement of October F&O series is on Oct 31. With that in mind, it may be presumed that the market may turn erratic. Traders may therefore start building positions in November series.
The critical point for the day is at 6148 and if the index trades below this in the initial hour then the market may weaken with supports at 6122, 6099 & 6073.
Otherwise it may go up with resistances at 6170, 6197 & 6219.
Intra day traders may trade accordingly with stop loss for shorts at 6203 & stop loss for longs at 6144.
Mid term traders may go long at lower levels by buying nifty 6200 Calls and buy 5800 puts at higher levels.
Mid term investors may place bids and offers as indicated in our previous post.
The critical point for the day is at 6148 and if the index trades below this in the initial hour then the market may weaken with supports at 6122, 6099 & 6073.
Otherwise it may go up with resistances at 6170, 6197 & 6219.
Intra day traders may trade accordingly with stop loss for shorts at 6203 & stop loss for longs at 6144.
Mid term traders may go long at lower levels by buying nifty 6200 Calls and buy 5800 puts at higher levels.
Mid term investors may place bids and offers as indicated in our previous post.
Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.
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