The benchmark index in particular and the overall market in general behaved very much in expected lines and Nifty traded in a tight range with no damage.
The day traders may go long in Nifty if it trades above 8620 for a target of 8650. On the flip side they may short the index if it trades below 8615 to cover at 8603. However if Nifty trades again above 8660 they may [lay it on long side till 8682 and 8702.
The short term traders may go long in Nifty for the September series, in case of weakness with strict stop loss at 8455.
The mid term investors may consider selling Zee Entertainment at 532.15.
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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