The Nifty is expected to weaken further and what is to be kept in mind is that the support of 7882 holds or not.
The intra-day traders may go short if the Nifty trades below 8052 to book profit at 8010. They may however go long only if the index trades above 8085 to book profit at 8125.
The short-term traders may ride their short positions and add more with stop loss at 8210 for a possible target of 7882.
The mid-term traders may consider buying Goldman Sachs Nifty ETF at 803.3 and Lupin at 1797.80 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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