Markets slip again on rising Covid cases; should you book profit for now?

For Sensex, Nifty50, and Nifty Bank, the underneath trend is bullish till the crucial support levels are held on a closing basis.

Extending the previous session's decline, the benchmark indices were trading around 0.5 per cent lower in the morning deals on Thursday as surging coronavirus cases in the US and many European countries dampened the hopes of economic recovery. Fresh curbs by Germany and France added to the woes further. That apart, trading was also volatile as today is the last day of the futures & options (F&O) contracts for the October series. 

So, what lies ahead for the indices, and what should be your trading strategy in the current market environment? Here's the clue.

S&P BSE SENSEX:  The index is