Rollover longs to Jan; Dec series to end near 6280: Expert

The Nifty is likely to continue its upside momentum and the December series, which expires today, will end around 6,280 or 6,300 levels, Hemant Thukral of Aditya Birla Money said. “I don’t see Nifty expiring below 6,240. For the day 6,320 would act as a small resistance,” he told CNBC-TV18 in an interview.

Thukral is bullish on the January series as well and recommends buying the index on dips. Stop loss for long positions for January series should be kept at 6,180, he said. “The 6,200 Put has been accumulating quite a bit of open interest on the upside. Support will remain at 6,150 and the target of Nifty is 6,450-6,500 on the upside,” he added.

Those holding long positions should rollover Nifty stocks and index to the next series, he said. 

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