The support of 7955 held in the previous session and the Nifty bounced
back from the lows of 7961.35. However, the bounce back may not be taken as an
end to weakness.
The intra-day traders may go long if the Nifty trades above 8058 to book
profit around 8087. Otherwise, they may play it on the short side to book
profit at 8007.
The short-term traders may consider covering their short positions.
The mid-term investors may stay away today.
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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