As we had suspected in our previous post, the Nifty was unable to conquer the key resistance of 8467 with good volumes and therefore slipped below to 8441.55 towards the end of the session closing at 8454.10.
The intra-day traders may go long only if it trades above 8465 and book profit at 8478. However, if the index slips below 8445 then they may short the Nifty and book profit at 8425.
The short-term traders may consider covering their shorts at 8390 with strict stop loss at 8481.
Mid term investors may exit Tata Motors at every rise and consider buying HDFC Bank at around 1077.65 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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