The Nifty continues in its upward trend very much in expected lines and it is quite likely that the bulls are here to stay for a while. The key point is to see if the resistance of 8243, which if conquered will see Nifty to move up north in jumps. But it cannot be said with certainty whether the resistance will be conquered today. The immediate supports for Nifty are at 8180, 8160 and 8095.
The day traders may go long if the index trades above 8200 to unwind the longs at 8240.
The short-term traders may add longs with stop loss at 8160 in case of weakness and are advised to close all their long positions around 8243.
The mid term investors may consider adding Yes Bank at around 1023.05 and 997.10.
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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