The Nifty still held the support of 7712 and till then nothing is to be worried about. But once 7712 is breached then chances of all hell breaking loose cannot be ruled out.
The intraday traders may go long only if the index trades above 7735 to book profit at 7754. Otherwise they may go short to cover around 7710.
The short-term traders may cover their short positions and wait patiently till a clear picture emerges.
The mid-term investors may consider buying HDFC Bank at 1059.25 and 1033.15, LIC housing at 473.80, Lupin at 1725.65, Goldman Sachs Nifty ETF at 761.1 and Zee at 401.35- 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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