On the Indian Stock markets. Nov 21.

As we had stated in our previous post the critical resistance at 6201 continued to be the dampner and inability of Nifty to conquer this level saw it go down.

Today's direction depends on which side of 6144 mark the benchmark index trades in the initial hour today. The resistances are at 6182, 6242 and 6279 and the supports are at 6085, 6047 and 5987.

Intraday traders may trade accordingly with stop loss for longs at 6108 and stop loss for shorts at 6167.

Short-term traders may add longs at lower levels with strict stop loss at 6060. If it goes below 6060 then one may initiate fresh shorts and if the Nifty shows an upsurge then all are advised to square off all their positions in the current F&O series.

Mid term investors may buy Tata Steel @ 370.55 and Tata Motors @ 374.85.

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.