The market behaved very much in expected lines and did stop for a breath as we had indicated in our previous post.
The Nifty was neither able to conquer the resistance of 8468 nor did it breach the support of 8375, which indicates that the settlement blues of the F&O series of May 2015 due on 28 May 2015 next week have already set in.
The intra-day traders may go long if the Nifty trades above 8425 with stop loss at 8410 to book profit at 8450. They may however go short if the Nifty trades below 8400 to book profit at 8352.
The short-term investors may exit all their long positions in May series.
The mid-term investors may continue to bid as per our weekly post and also as per an earlier post.
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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