The markets in general are expected to consolidate drifting down but overall the sentiment is bullish and chance for people left out of the recent bull run to get in the band wagon.
The day traders may go long if the Nifty trades above 8515 for a target of 8553. However, below 8500 they may short the Nifty to cover at 8451.
The short-term traders may consider going long on Nifty in August series, in case of weakness with stop loss at 8400.
The mid term investors may bid for Yes Bank at 1137.05 and 1097.10, Kotak Mahindra at 755.35, ITC at 241.35, Indusind Bank at 1102.15 and 1084.45, hero Motor at 3171.40, Grasim at 4633.40- all in small quantities and they may also consider offering Ambuja Cements at 267.15 and 270.25 and Lupin at 1749.60.
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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