Tips for traders and investors in the Indian Stock Markets for October 29 2014.

Although a closing above the key resistance of 7993 implies return of bulls but there being settlement of October F&O series on October 30 2014 we advise a word of caution.

The intra-day traders may go long if the Nifty trades above 8020 with stop loss at 8005 and book profit around 8045. However if it trades below 8000, then they may play it on the short side and book profits at around 7977.

The short-term traders may consider going long in L&T with stop loss at 1545.

The mid-term investors and if it reverts from here on, then one may consider adding LIC Housing Finance at 324.25 to their portfolio in small quantities.

A lot of people have lost a lot of money in Capital markets due to their need to get rich quickly and their innermost desire to gamble, to feel the consequent emotional excitement, over which they have no control. The sole intention of sharing this link is to guide such people by helping them in minimising their losses.

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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.