The Nifty continues to remain in a
consolidation phase with a positive bias for as long as the support of 7400
holds.
Intra-day traders may go long if the
Nifty trades above 7520 mark with stop loss at 7510 and book profits
successively at 7536 and 7566. However, if the benchmark index trades below
7501, then they may short the Nifty with stop loss at 7511 to cover shorts at
around 7481.
In case of weakness, the short-term
traders may add long positions stop loss to 7400.
Mid-term investors may consider buying
Tata Steel at 507.75.
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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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