If the support of 8068 gets taken out in the ensuing session on closing
basis then we are headed towards the next intermittent support of 7955 unless,
of course, if there is a bounce back from here on.
The intra-day traders may go long if the Nifty trades above 8105 to book
profit around 8145. Otherwise, they may play it on the short side to book
profit at 8025.
The short-term traders may play it on the short side lowering their
trailing stop loss to 8252.
The mid-term investors may consider buying Axis Bank at 422.20, Bank Of
Baroda at 976.10, HDFC Bank at 920.85 and LIC Housing Finance at 375.30
all 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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