On the Indian Stock Markets. January 8.

The key support of 6141 is pretty near and we almost tested it in the last session when the Nifty bounced from 6144.75.

That being said, the critical point determining the course of the benchmark index is at 6182 below which the Nifty will remain bearish with supports at 6141, 6130 and 6099 and above which the Nifty will demonstrate a bit of strength.with resistances at 6194, 6208 and 6253.

Intra-day traders may trade accordingly i.e. go long if Nifty trades above the 6176 mark in the initial hour of trade with stop loss at 6160 and go short otherwise with stop loss at 6195.

Short-term traders may go short at higher levels around the resistance levels with stop loss at 6276.

Mid-term investors may bid Lupin at 917.05 and Maruti at 1825.85 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.