The Nifty jumped up quite a bit in the closing session of the January F&O series. If however, the benchmark index stays conclusively above 8558 in the ensuing two or more sesions then it can safely be concluded that the bulls are back to stay.
The day traders may go long in Nifty futures if the spot Nifty trades above 8583 in the first hour to book profit when the spot Nifty is at 8645.
They may however short the Nifty futures if the spot Nifty trades below 8552 to book profit when the spot Nifty is at 8526.
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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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