With the settlement of F&O June series due tomorrow, the market may tend to be volatile yet we expect it to broadly remain within 8000 to 8300 range. It might however rise further on the whole but that too on account of settlement. Otherwise, as of now there are no clear leaders in the bullish pack.
The day traders may go long if the benchmark index nifty trades above 8135 with stop loss at 8120 for a target of 8166, However, if it trades below 8090 then they may short the Nifty to cover at 8060.
The short-term traders may buy in gap down and sell into gap ups. The immediate resistance is at 8150 and support is at 8010.
The mid term investors may place bids for Hero Motors at 2998.65 and 2975.55, Goldman Sachs Bank ETF at 1751.32 and 1721.95, Indusind at 1066.05 and Yes Bank at 1041.15- 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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