First and foremost, it may be kept in mind that the settlement of October F&O series is due on October 29 2015 and there the market may turn violent and jittery. So one may trade/ invest with caution and tend to be nimble footed.
The immediate resistance for the benchmark index is at 8346, which if conquered, will see the Nifty headed towards the next target of 8515. On the flip side the immediate support is at 8300, which if broken will see Nifty gravitate towards the next supports of 8257, 8180,7934 and 7840.
The intraday traders may go long if the nifty trades above 8300 and book profit at 8320 and 8346.
The short-term traders may book their longs of October series. However, if the nifty falls down then they may take advantage of the weakness and start making long positions in November series with stop loss at 8180.
The mid-term investors may sell 10 % of their holdings in HDFC bank at 1148.55, Goldman Sachs nifty ETF at 847.36 and LIC housing at 533.70. In case of decline they may add Goldman Sachs nifty ETF at 828.45 and 801.05.
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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