After the initial hiccup, the Nifty turned bullish in the previous session yet the true strength of nifty will only be confirmed if it manages to stay above the critical resistance of 8795.
The intra-day traders may go long with stop loss at 8630 to book profits at around 8690 or 8720 as the case may be. However below the 8630 mark they may go short to book profits at 8610.
The short-term traders may continue to ride their long positions in Nifty and raise their stop loss to 8542 for a possible target of 8790.
The mid-term investors may invest as per our advise in our previous post.
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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