The benchmark index continued in its
downslide towards the 7784 mark making new intermediate low before ending
almost flat.
The intra-day traders may go long if the
Nifty trades above 7856 mark for some time with stop loss at 7842 and book profits
around 7888. However if it trades below 7835, then they may play it on the short
side with stop loss at 7842 and book profits at 7815.
The short-term traders may open fresh shorts
if Nifty goes up to above 7948 levels with stop loss at 8028. They may also
consider going long in HDFC Bank at 860.60 with strict stop loss at 855.95.
Mid-term investors may consider buying Tata
Steel at 446.10 and 426.70 and Tata Motors at 495.30 in small quantities.
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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