On the Indian Stock Markets. January 2.

The benchmark index continued to be inconclusive. The tipping point for the day is at 6310. Our outlook continues to be the same as we had stated in our previous post.

Intra-day traders may go long only if the Nifty holds above 6310 with stop loss at 6284. However, they may go short only if Nifty conclusively trades below 6298 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.