On the Indian Stock Markets. January 10.

The markets once again closed inconclusively after bouncing back from 6148.25 which was pretty close to our key support of 6141. The critical point for today is at 6168 and Nifty must trade above this level conclusively in the initial hour of trade to go up. Otherwise it will remain weak with supports at 6148, 6128 and 6108. However, above 6168, the resistances are at 6188, 6208 and 6227.

Intra-day traders may trade accordingly with stop loss for longs at 6161 and that for shorts at 6175.

Short-term traders may go long only if Nifty trades above 6198. They may consider shorting the Nifty only if the index breaches the key support of 6141 conclusively with good volumes.

Mid-term investors may consider buying Lupin at 917.05 and Maruti at 1793.55. They may also consider selling 10% of their holdings is HCL Tech at 1320.25

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.