The benchmark index in particular and the market in general has become volatile and is clearly a sell at rise recently.
The day traders may go long if the benchmark index, Nifty, trades above 8785 for a target of 8810. On the flip side if it trades below 8780, they may short the Nifty to cover at 8767.
The short term traders may buy on weakness with stop loss at 8700. They may sell their long positions around 8860 levels.
The mid term investors may consider selling 25% of their holdings in each of Ambuja Cements at 277.25, Hindalco at 154.85, Indusind at 1224.15, ITC at 263.15, Kotak Mahindra Bank at 811.65 and Zee Entertainment at 538.45.
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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