Our mid term support of 8213 held as the benchmark index
bounced back from 8225. However, the bounce back was only a short covering and
the support of 8213 is to be kept in mind. However if the support of 8213 is breached then we are headed towards the rock support of 7882. Moreover, the settlement of F&O
series is due on 27 August 2015 and therefore short term traders may be careful or
abstain from trading.
The intraday traders may go long in Nifty only if it trades
above the 8285 mark to book profit at 8335. They may short the Nifty if it
trades below 8250 to book profit at 8213.
Short term traders may abstain today. If an opportunity
arises we will advise in a subsequent post.
Mid term investors may seek opportunity in stocks like HDFC
Bank and LIC housing Finance and add more of them to their portfolio in every
melt down; HDFC Bank @ 1042.8 and LICHSGFIN @438.35 & 429.95 in small
quantities.
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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