The upcoming week is a truncated week on account of holidays on April 14 2016 and April 15 2016.
As if following our blog, the Nifty did behave very much in expected lines in our previous weekly post. The benchmark index failed in conquering the resistance of 7755 and the support of 7547 too held on concluding basis.
The immediate resistance is at 7685 and then at 7755. The immediate support is at 7547 which if broken on closing basis will see Nifty gravitate towards 7189. The traders and investors may stay nimble footed and sell on rise as well as buy to falls.
The day traders may go long if the Nifty trades above 7575 to unwind at 7605. Other wise they may short Nifty if it trades below 7547 to cover at 7511.
The short term traders may if the Nifty breaks the support of 7547 in closing basis, go short for a possible target of 7401.
The mid-term investors may consider buying adding Grasim to their portfolio in case of weakness for a possible target of 4100.
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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