The immediate resistance for Nifty is at 8764 which if conquered will see it scale the next target of 8810. The new support is at 8627.
The day traders may go long if the spot Nifty trades above 8740 for a target of 8778. They may short the Nifty if the spot Nifty trades below 8730 to cover at 8706.
The short term traders may add long positions in Nifty if it becomes weak with stop loss at 8625.
The mid term investors may consider adding Ambuja Cement at 253.35 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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