The Nifty displayed quite a strength in the previous session but it fell short of conquering our specified resistance of 7685. The new resistance is at 7677 which if conquered will see the benchmark index move towards the next resistance of 7760. However, it may be kept in mind that one may not keep the positions open and probably try to book profits in case of a rise on the April 12 2016 session as the markets will remain closed on long weekend starting April 14 to Sunday the April 17.
The day traders may trade long with stop loss at 7620 to unwind at 7701. However below 7615 they may short to cover at 7585.
The short-term traders may also trade likewise.
The mid term investors may try selling the key stocks- Grasim at 4048, HDFC Bank at 1093.85 and LIC housing at 491.10.
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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