The day of settlement has finally arrived taking most of the traders on a ride.
The benchmark index continues to be bullish as the Nifty ended in positive territory inspite of the initial hiccup that made it see the low of 7723, but the bounce back was very much in the expected lines.
The support is now at 7784, which if breached will see the benchmark index to test the supports of 7736 and 7586.
On the flip side, the resistances are at 7910, which if conquered will see Nifty give it a try at 7955 and 8150.
The intra-day traders may go long if the Nifty trades above the 7810 mark to book profit at 7900. On the other hand if the Nifty trades below 7784, they may short the Nifty to book profit at 7735.
The short-term traders may consider going long in nifty in the October series with stop loss at 7730.
The mid-term investors may consider buying Marico at 375.05, LIC Housing at 418.85, Goldman Sachs Nifty ETF at 782.87 and 767.78 and Coal India at 307.90; all 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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