If the Nifty conquers the resistance of 8590 with good volumes then chances of a rally cannot be ruled out which may take up the benchmark index to 8668 and beyond. Otherwise, the supports is at 8430.
The intra-day traders may go long if the Nifty holds its head above the 8575 mark with volumes and for longer time and book profit at around 8590. Otherwise, i.e. if it trades below the 8565 mark they may play it on the short side to book profit at 8548.
The short-term traders may go long only if the index stays above the 8600 mark with stop loss at 8585.
The mid-term investors may chose the SIP route to invest in Birla Sun Life Top 100 (G) and SBI Blue Chip Fund (G), as the direction of market is yet not clear for the mid term horizon. They may also consider selling the key stocks in every rise in quantum of 10% of their total holdings in the stocks and turn their investments in stocks 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.
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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