The immediate resistance for the Nifty is at 8150 and unless the benchmark index conquers it conclusively, the markets in general are expected to remain weak. However, with the settlement of F&O series of June due on the coming Thursday, chances of volatility can not be ruled out.
The direction in today's session depends upon which side of 8090, the nifty trades.
The day traders may go long if Nifty trades above 8190 for a target of 8130 and short if it trades below 8070 to cover at 8045.
The short term traders may go long with stop loss at 8000.
The mid term investors may place bids for Yes Bank at 1067.55, Indusind Bank at 1066.65 and Hero Motors at 3022.45 and 2995.40- all 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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