Tips for traders and investors in the Indian Stock Markets for July 31 2014.

Today being the expiry date of the July 2014 series, the market is absolutely unpredictable and may or may not become choppy. However, the bullish structure is intact as long as the Nifty stays above the support of 7582. 

The intra-day traders may go long if the benchmark index trades above 7795 with stop loss at 7785 and book profit at around 7834. They may however trade on the short side if the Nifty trades below 7742 and get out immediately by booking profits at  around 7715. 

The short-term traders may, in case of weakness in the benchmark index,  build long positions in Nifty for the August series by buying one lot each of Nifty 7700 Call at 97.55 and Nifty 7800 Call at 52.85 in August series and hedge their positions in the September series by selling two lots of Nifty 7700 call at 288.85 and 319.05 each in case of a flare up today and/or over the next three four sessions.

Mid-term investors may consider buying L&T at 1478.75 in small quantities.

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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.