The resistances for Nifty are at 8773, 8838 and 8965 and the supports are at 8713, 8694, 8622 8595 and 8491. If the benchmark index conquers one resistance then it will head towards the next above and likewise if the Nifty breaches one support then it will slide towards the next support.
We expect the week to be more of consolidation with a positive bias and gradual move towards our target of 8965 in the days to come.
As for the day traders, they may go long in Nifty futures if the spot Nifty trades above 8740 to book profits when the spot Nifty is at 8765. They may short the Nifty futures if the spot Nifty trades below 8721 to cover their shorts when the spot Nifty is at 8694.
We have revised the targets of the key stocks that we recommend to the subscribers of this blog. Moreover, few stocks have become attractive that we have recommended to be added to the portfolio. The subscribers may check their inbox. Those who haven't yet subscribed may consider following us through e mail.
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.
Indiabulls Housing Finance is the top Nifty gainer and Lupin is the top Nifty loser in the morning hours. Indiabulls Housing Finance is trading at Rs 1075.05 per share up by 5.71% whereas Lupin is trading at Rs 1303.90 per share, down by 2.57%.capitalstars
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