The Nifty is expected to remain weak with immediate support at 8070 which if breached may see it slide down to 7882 and 7586 levels.
The immediate resistance is at 8310 which if conquered may see it move towards 8405 and 8521.
The intraday traders may trade long in Nifty only if it holds above 8140 and book profits at around 8170. They may short the Nifty if it trades below 8105 to book profits at 8080.
The short-term traders may trade on the short side with stop loss at 8310.
The mid-term investors may continue investing via the SIP route as per advice we had given in our weekly 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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