The Nifty continues to be bullish as long as it does not break the support of 7520 and so long we are into a positive phase albeit with a bit of gloominess in the wake of the recent breakdown. The next resistances continue to be at those indicated in our weekly post.
The intra-day traders may trade on the long side if the nifty trades above 7566 to book profits at 7625. However, if it trades below 7550, then they may go short to book profit at 7531.
The short-term traders may continue to ride their longs and also add new long positions with stop loss raised to 7468.
The mid-term investors may behave like short term traders and stay nimble footed to offer Asian Paints at 913.15.
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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