The benchmark index must trade above the 6284 mark conclusively with good volumes today for it to exhibit further up-move, in which case it will meet resistances at 6308, 6326, 6349 and 6391. Otherwise it will weaken and consolidate with a positive bias with supports at 6267 and 6218.
Intra-day traders may trade accordingly i.e trade on the long side if the Nifty manages to stick its head above the 6284 mark with stop loss at 6265. Otherwise they may consider shorting the Nifty with stop loss at 6295.
Short-term traders may consider going long in case of weakness with stop loss at 6210. They may open fresh longs if Nifty trades conclusively with good volumes above 6310.
Mid-term traders may consider buying Lupin at 882.65 and Maruti at 1746.30 in small quantities. They may also consider offering 10 % of their holdings in each of HCL Tech at 1475.75, HDFC Bank at 685.95, Hindustan Zinc at 139.05 and ITC at 340.15 for today.
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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