The day traders may go long if the index trades above 8530 for a target of 8565 with stop loss at 8520. However, if the Nifty trades below 8508, they may short the index to cover at 8484.
The short-term traders may play it on the long side by riding their long positions and adding more longs and raise their trailing stop loss to 8410.
The mid term investors may consider buying Indusind Bank at 1084.45 and Yes Bank at 1125.45.
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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