The Nifty is showing signs of weakness in the short term and rise may be construed as an opportunity to sell. Moreover, the stock markets in India will remain closed on Monday, September 5 2016.
The day traders may go long if the Nifty trades above 8795 for a target of 8810. On the other hand they may short the Nifty if it trades below 8765 to cover at 8730.
The short term traders may exit their long positions in Nifty and staying away for the long weekend.
The mid term investors may consider adding Ambuja Cements at 269.85 and 254.65 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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