The day traders may short the Nifty futures if the index trades below 8110 to cover when it is at 8075. They may go long in the Nifty futures if the index trades above 8133 to book profit when the index is at 8155.
As for the short term traders, the supports are at 8075 and 8053. If 8053 is breached then one might as well be prepared for another bout of sell off. The resistances are now at 8133, 8206.
The mid term investors may stay on the side lines and park their funds in mutual funds listed in our previous post.
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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