It may however be noted that we are not out of the woods yet although the meltdown did get contained in the previous two sessions. The Nifty remained inconclusive towards the close of the session. The recent flare up may not be construed to imply the return of the bulls as the settlement blues have set in and the index may turn volatile and unpredictable.
The intra-day traders may go long only if the Nifty trades above the 8425 mark to book profit at around 8480. However, if it trades below the 8365 mark then they may short the index to book profit at 8338.
Like wise, the short-term traders may short nifty (May series) if it trades below 8365.
The mid term investors may consider buying Axis Bank at 511.05, Idea at 180.55 and Marico at 383.25 in small quantities. They may also consider investing in Birla Sun Life Top 100 (G) and SBI Blue Chip Fund (G) through SIP.
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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