The intraday traders may go long if the benchmark index trades above 8147 to book profits when the spot Nifty reaches 8175. They may short Nifty if it trades below 8116 to cover around 8056.
The Nifty for the short term traders now has a support at 8066 and resistance at 8219.
The short term traders may consider buying Hindalco at 167.10 for a target of 192.65.
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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