The upcoming session is the settlement day of the F&O series of October 2016 and the tipping point for day traders is at 8623. If the spot Nifty trades above 8623 then the traders may go long in Nifty futures of November series to book profit when the spot Nifty hits 8670. On the flip side they may cover their shorts when spot Nifty hits 8588.
The short term traders may go long in Nifty in case of weakness with strict spot loss at Spot Nifty 8594.
The mid term investors may consider adding LIC HFL at 580.40, Kotak Mahindra bank at 785.80 and Zee at 501.45- 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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