The resistance of 8083 was captured
yesterday on concluding basis in the previous session which might look like the
return of bulls. But the return of bulls will be confirmed if the benchmark
index manages to stay above 8083 in today’s session throughout the day. Next
week being the triple witching week owing to the settlement of September series
on September 25 2014, it is equally likely that the bulls might get trapped.
The intra-day traders may go long in
case of weakness with stop loss at 8055 and book profits around 8129.
The short-term traders may stop trading
in the current series and start taking positions in the October series. If
there is another spike up today like that of yesterday, then one may open short
positions if the nifty soars up to around 8194/ 8214 levels. They may go long
in Tata Motors with stop loss at 515
Mid-term investors may consider buying
Coal India at 332.20 in small quantity.
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