The immediate support of the benchmark index is at 8499 and the day traders may go long if the Nifty trades above this mark to book profit at 8556. However, if the Nifty trades below 8499, they may short the Nifty to cover at 8475/ 8461.
The short-term investors may ride their longs and even add more in case of weakness in the index with stop loss at 8400.
The mid-term investors may consider buying Yes Bank at 1144.95 for a target of 1178.45.
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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