The markets behaved quite in expected lines and weakness prevailed through out the previous session. Those who played shorts as we had advised might have made a killing.
The critical point for today is at 6201 which must act as a support for the Nifty to remain bullish in which case the possible resistances will be at 6231, 6252 and 6282. Otherwise the Nifty will weaken further with supports at 6181, 6141 and 6130.
Intra-day traders are advised to go long if Nifty opens and trades above 6201 in the initial hour of trade with strict stop loss at 6280. Otherwise they may play short.
Short-term traders may even attempt to go short at higher levels with strict stop loss at 6290.
Mid-term investors may bid Maruti at 1786.55 and 1764.35 in small quantities.
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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