The index has become more and more unpredictable but the takeaway from today's market is that someone is pushing sale defying the technical parameters of the market. The market has therefore become very dangerous and deceitful. Something is utterly wrong somewhere and so one might as well stay away from the market till some stability emerges.
Intra-day traders if they are compulsive traders are advised to be nimble footed. They may trade on the short side if the index trades below 8522 in the opening hour and book profit at 8505. They may go long only if the Nifty conquers the resistance of 8565 and get out at 8595.
Short-term traders may stay on the sidelines for now as they might burn their fingers.
Mid-term investors may consider selling all the key stocks in small quantities in every rise and turn their portfolio completely into cash.
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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