The settlement of the August F&O series is due on the coming Thursday, August 25 and with that in mind one may be careful as chances of volatility setting in and catching one off guard cannot be ruled out. Although the Nifty covered most of the lost ground last week and closed in the bull territory but the broad range of Nifty is expected to remain between 8500 on the lower side and 8800 on the upper side.
The day traders may go long if the Nifty remains above the 8677 mark for a target of 8694. On the flip side they may short the Nifty if it trades below 8655 to cover it at 8636.
The short term traders may close all their positions in the current series and start building long positions in Nifty if Nifty happens to weaken with stop loss at 8556.
The mid term investors may consider offering Ambuja Cement at 283.35, Indusind at 1226.65 and Hindalco at 164.45 and buy HDFC Bank at 1229.55 in small quantity.
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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