It may be kept in mind that the Indian Stock markets will
remain closed on September 13 2016.
The resistance for the benchmark index Nifty is
at 8930 and then at 8979 and 9005. The support is at 8836 and then at 8706 and
8547. The Nifty is expected to remain bullish if it conquers the resistance of
8930 and it might turn bearish if it breaches the support of 8836.
The markets are however, expected to be weak with bears in full command for a while.
The markets are however, expected to be weak with bears in full command for a while.
The day traders may go long of the Nifty trades
above 8890 for a target of 8925. They may short the index if it trades below
8880 to cover at 8845.
The short term traders may continue to ride
their longs in Nifty and more in case of weakness with stop loss at 8836.
The mid term investors may consider buying
Ambuja Cements at 269.65 and 266.05, Indusind Bank at 1189.35- all in small
quantities.
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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