The immediate support for Nifty is at 8230 and 8194. The resistance for the index is at 8393 and 8420.
Although the index is expected to remain weak but still the day traders may go long in Nifty if the spot Nifty trades above 8350 for a target of spot Nifty of 8382. On the flip side they may short the Nifty if it trades below 8300 for a target of 8273.
The short term traders may consider going long in Hindalco Industries with stop loss at 171.10 for a target of 183.45.
The mid term investors may consider placing bids for ITC at 238.05 and 227.55 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.
Selling pressure continued in afternoon trade with the Sensex falling 371.81 points or 1.39 percent to 26447.01 and the Nifty down 146.95 points or 1.77 percent at 8149.35.
ReplyDeleteCapitalstars
Dilip Buildcon joint venture has been declared as the successful bidder for Evacuation of Overburden of first dig and Re-handling by Mechanical Means at Specified places at Nigahi OCP of Northern Coal Fields (M.P.) at a project cost of Rs1469.84 crore.
ReplyDeleteShare market Live