The immediate resistance for Nifty is at 8572 and ten at 8608 and 8651. On the flip side the support is at 8452 which if breached will see the index slide towards 8324.
The day traders may go long in Nifty futures if the spot Nifty trades above 8505 to book profit when the spot Nifty trades at 8539. They may however short the futures if the spot Nifty trades below 8595 to cover them when spot Nifty is at 8460.
The short term traders may consider going long in ITC with stop loss at 253.50 for a target of 266.85.
The mid term investors may consider adding LIC Housing Finance to their portfolio at 537.40 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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