The immediate trend will be bullish if the Nifty trades above
the 6781 mark in the initial hour of trade and will turn weak if it trades
below 6760 mark.
Intra-day traders may go long if the Nifty trades above the 6781
mark to book successive profits at around 6800, 6822 and 6845. However, they
may play on the short side if the index trades below 6760 with targets of 6750,
6725 and 6709.
Short-term traders may continue to go long even if Nifty weakens
in the session with stop loss at 6714.
Mid-term investors may utilize any up-side to rid their portfolio
of non-performers.
In case
of weakness, they may consider buying Ambuja Cement at 205.35 in small
quantities. They may also consider buying L&T in small lots at 1282.35.
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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