Much in the expected lines, a indicated in our previous post, the market went up to 8972.35 (our resistance was at 8975.15 as we had indicated in our previous post). Our support of 8865 held in the previous session as the Nifty bounced back from 8885.45 which clearly indicates that the market continues in its bullish mode with immediate resistance at 8990.
The day traders may go long with stop loss at 8930 to get out at the resistances indicated in our previous post.
The short term traders may raise their stop loss to 8917 and continue to ride longs and even consider adding more long positions. They may also consider going long in Axis Bank with stop loss at 640 with immediate target of 674.20.
The mid term investors may consider buying HDFC Bank at around 1068.05 and Larsen & Toubro at 1827.05.
They may also consider investing in SBI Blue Chip Fund (G) with a long term horizon via SIP.
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