The day traders may go long if the spot Nifty trades above 8620 for a target of 8645. The may short the Nifty if the benchmark index trades belwo 8590 to cover at 8565.
The short term traders may keep in mind that the immediate support for Nifty is at 8590 and then at 8547. If 8547 is breached on closing basis with good volumes then the next support is at 8324. On the upside, the immediate resistance is at 8620 and then at 8707, 8764 and 8810. They may keep these marks in mind and play accordingly.
The mid term investors may consider buying Zee Entertainment at 527.45 in small quantity.
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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