The market continues to be in consolidation mode with positive bias but with the shadow of settlement of June series looming large on account of which sharp moves in either direction cannot be ruled out.
Intra-day traders may go long if the Nifty trades above 7567 mark conclusively in the with stop loss at 7545 and book profits successively at 7594. However, if the benchmark index trades below 7537 then they may short the Nifty with stop loss at 7553 to cover shorts at around 7525 and 7495.
Short-term traders may start taking long positions in the July series in case of weakness at or below 7490 mark with stop loss at 7415.
Mid-term investors may consider buying ONGC at 407.70 and Tata Steel at 507.95.
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