Unless Nifty breaches 5030, HDFC Sec won't raise a red flag

Unless the Nifty breaks below 5,030 levels, HDFC Securities's head of private broking and wealth management, VK Sharma would not be bearish in the current series. However, he remains bearish for the October series as it is a lean month for India as well as the rest of the world. He suggested, "Investors need to be slightly more realistic to protect their portfolios for the October month."

He advised the investors to play safe by buying puts and creating a bear from for the next series. He also indicated the Arvind has seen a change for its better. Here is the edited transcript of his interview. Also watch the accompanying video. Q: What would you do with the Nifty this morning? How would you approach it?
A: I suggest all technical analysts to go fundamental at this point of time. The possible technical support can go for a toss based upon any particular news. It is absolutely dangerous to leave positions overnight.
However, if you are using derivatives and were to buy puts for the month of October, your changes of making money is more. There are no possible upsides.
Beyond a level of 5,200, the markets will find difficult to cross 5,170 levels. Even if you buy the stop losses which are triggered, you are in for a great amount of losses because you could find it turning red the next day.
Investors should trade very light. If positions have to built, they should to be built over night in puts. To be safer, buy puts and create a bear spread for the month of October. Currently, I