The Nifty did show strength in the previous session but all the gains petered out by the close but the only positive takeaway was that the index did close above the critical support of 8501 which previously was the critical resistance. Whether any strength remains or not in the market depends on whether the index trades above the 8495 mark in which case the intraday traders may go long to book profit at 8470. However if the Nifty trades below 8450 then they may short the index to book profit at 8427.
The short term players may continue to ride their longs and also add more long positions in case of weakness with strict stop loss at 8400.
The mid term investors may consider investing by the way of SIP in SBI Blue Chip Fund (G).
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.
The short term players may continue to ride their longs and also add more long positions in case of weakness with strict stop loss at 8400.
The mid term investors may consider investing by the way of SIP in SBI Blue Chip Fund (G).
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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