The Nifty did trade above the critical mark of 8345 in the early hour of last session and therefore it behaved quite in expected lines as indicated in our previous post and those who exited at 8410 must have gained.
Our support of 8311 too held which implies that there is a bit of strength in the market.
The intraday traders may go long if the nifty trades above the 8392 mark with stop loss at 8370 to book profits at 8452. However, they may short the Nifty if it slips below 8353 mark with stop loss at 8375 to book profit at 8315.
The short-term traders may add long in case of weakness with stop loss at 8230.
The mid-term investors may consider investing in SBI Blue Chip Fund (G) through Systematic Investment Plan. They may also bid Marico at 406.70 with stop loss at 402.
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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