Weekly post on trading tips for November 30 2015 to December 4 2015

If the benchmark index manages to hold above the 7868 mark on closing basis, which seems more likely, then the technical parameters suggest that an intermediate bottom has already been made and the market might see a bullish rally. If the Nifty manages to trade above 7965 it will be headed towards 8090, which should be a strong resistance. On the flip side the immediate support is at 7920 which if broken may see Nifty slide back towards the 7843 mark.

The intraday traders may go long if the Nifty trades above 7950 and book profit at 7975 or 8000, as the case may be. However, if Nifty trades below 7920, they may go short and book profit at  7895 or 7870. as the case may be.

The short term traders who went long in December series as per our advice in our previous post, may continue to ride their long positions and even consider adding fresh longs raising the stop loss to 7800 for a possible target of 8090.

The mid-term investors may consider going long in HDFC bank with a target of 1148. They may also consider selling Lupin at 1987, Zee entertainment at 426.95 and Goldman Sachs Nifty ETF at 819.71.

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.