SmartInvestor: Nifty have succumbed to selling pressure and broke the psychological level of 6,050 ahead of F&O expiry and FOMC meet. What is your advice for investors to trade in Nifty?
Devangshu Datta: Actually, downtrend has held at support around 6040-6050. There could be a small pullback till around 6075-6080 as shorts are covered.
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Devangshu Datta: If you short, keep a stop loss at 6090. If you go long, keep a stop at 6035.
SmartInvestor: Bank Nifty is at three month low, down 9% in six days. What is your take on the Bank Nifty?
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