The Nifty does not seem to stop loosing ground and seems likely to target 7150.
The intra-day traders may go long only if it trades above 7225 to unwind at 7265 or 7290 as the case may be. Otherwise they may short the Nifty to cover at 7175.
The short-term traders may ride their shorts till 7150 and even add fresh shorts with stop loss at 7385.
The mid-term investors may consider adding Asian Paints at 857.15 and Goldman Sachs Nifty ETF at 712.33 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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