The Nifty showed a positive bounce back in the previous session but the comeback of bulls will be established only after it conquers the resistance of 8656 on a conclusive basis with good volumes.
The day traders may go long in Nifty if it trades above 8630 for a target of 8665. On the flip side, they may short the Nifty if it trades below 8590 to cover at 8575.
The short term traders may go short in Nifty if it trades below 8570. On the other hand they may go long in Nifty if it trades above 8670. They may also consider going long in Zee Entertainment with a stop loss at 513 for a possible target of 550.
The mid term investors may consider adding Indusind Bank at around 1143.85.
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. 
Crompton Greaves Q1: Net Profit at Rs40 Cr Vs Loss of Rs63.7 Cr (YoY).
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