That the support of 7700 has by far held, we can safely presume that chances for further downside in the immediate term are remote. The day and short term traders may open fresh longs in Nifty in June series with strict stop loss at 7720 for a possible target of 7840.
It may be kept in mind that settlement of F&O series of May is due on May 26 2016.
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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