With the settlement over, the markets in the upcoming session are expected to remain week, or at best consolidate, there being no clear cut leaders as most of the leaders taking Nifty up north in the past few months are almost standing at the tipping point below which they might be washed for a while or longer.
The day traders may consider going long in Nifty Futures if the spot Nifty trades above 8600 to book profits when spot Nifty trades at 8649. On the flip side they may short the Nifty futures if the spot nifty trades below 8575 and cover their shorts when spot Nifty trades at 8530.
The short term traders may rather stay away for the day as during Muhurat trading which will be held on Sunday the 30th October, the index tends to be haphazard and then again the markets will remain closed on Novemeber 31.
The mid term investors too may stay away for the day.
Here's wishing all the readers of this blog a very Happy Diwali, the big festival of lights and prosperity. Stay healthy!!
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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