Tips for traders and investors in the Indian Stock Markets for December 23 2014.

The bulls seem to have returned with a firm resolution to stay but we still advocate caution in trading, with the impending settlement on December 24 2014 and a truncated week on account of holiday on December 25 2014, markets may turn deceptive. However, if the benchmark index conquers the next resistance of 8372 in the ensuing session with good volumes and on a conclusive basis, then one may expect fresh longs in the market which will propel the Nifty to new all time highs. But the Nifty shall remain bullish for as long as it trades above 8102.

The intra-day traders may go long if the Nifty trades above 8305 to book profit around 8372. They may play it on the short side if the nifty trades below 8285 to book profit at 8260.

The short-term traders may consider going long in case of dips and unwind the longs at 8372.

The mid-term investors may consider buying Axis Bank at 472.05 and Bank of Baroda at 1018.25.

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.