If the Nifty opens and trades above the 6195 mark in the opening hour, then one may expect a bit of upside with resistances at 6230, 6254 & 6284. Otherwise it will find support at 6172, 6140 & 6117.
Intra day traders may go long if the index trades above 6195 in the opening hour with strict stop loss at 6175. Otherwise they may go short with stop loss at 6200.
Short term traders may continue riding trades on long side with stop loss at 6095. If nifty weakens they may add fresh longs.
Mid term investors may consider buying Tata Motors in small quantities with successive bids at 375.25, 370.55, 366.85 & 354.05.
Intra day traders may go long if the index trades above 6195 in the opening hour with strict stop loss at 6175. Otherwise they may go short with stop loss at 6200.
Short term traders may continue riding trades on long side with stop loss at 6095. If nifty weakens they may add fresh longs.
Mid term investors may consider buying Tata Motors in small quantities with successive bids at 375.25, 370.55, 366.85 & 354.05.
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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