With the lack of leadership the Nifty has turned volatile and the direction has become uncertain, but it is definitely a sell on rise market anyway.
The day traders may go long in Nifty if it trades above 7095 to unwind at 7155. They may short the Nifty if it trades below 7020 to cover at 6989.
The short term traders may go long for a possible target of 7208 with stop loss at 7020.
The mid term investors may stay on the sidelines and wait and watch.
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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