On the Indian Stock Markets. December 31.

The benchmark index must trade conclusively above 6303 mark in the initial hour of trade for the market to go further up, in which case the resistances will be at 6332, 6373 and 6403. Otherwise, the market will remain weak and bearish with supports at 6261, 6231 and 6190.

Intra-day traders may trade accordingly depending on which side of the 6303 mark the index trades. But one may not go long unless and until the Nifty trades above 6309 mark conclusively with strict stop loss at 6303. Otherwise they may go short with stop loss at 6316.

Short-term traders may continue to trade long with stop loss at 6214. They may go short only if Nifty falls below the 6214 mark with stop loss at 6250.

Mid-term investors may utilize any up-spike to rid their portfolio of non-performers.

In case of weakness, they may consider buying HDFC Bank @ 637.25.

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.