Tips for traders and investors in the Indian Stock Markets for January 8 2015.

Inspite of the recent meltdown, the only hope is in that our key support of 8068 remained unbroken on closing basis. However, the traders and investors must look out for the support of 8068, which if breached will see the Nifty enter into a bearish phase.

The intra-day traders may go long if the Nifty trades above 8095 to book profit around 8135. They may play it on the short side if the nifty trades below 8095 to book profit at around 8068.

The short-term traders may consider adding long positions in the January series with strict stop loss at 8068.

The mid-term investors may consider buying Axis Bank at 493.15 and LIC Housing Finance at 443.85 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.