With European markets hinting negative cues and lower US index futures, the market sentiment turned subdued and a spate of selling in front line stocks took place which pulled down the indices to day’s low at close though Indian Markets opened a gap-up and were trading at day's high in the afternoon.. The Sensex, finally closed the session at 16,469 near day’s low of 16,413.03 making a paltry gain of 23 points. The Nifty too closed flat at 4943 after making a high of 5029 and a low of 4923, a swing of more than 100 points in intra day trades. The market trend remaining undecided.In fact, the market is now for :
SELL AT EVERY RISE.
FOR TODAY:: SELL NIFTY WITH STRICT STOPLOSS OF 4926.
Due to expiry on Thursday, better to avoid options trading for three days.
Disclaimer:: I have short position in nifty and some other stock futures initiated around 5012 (nifty future level) yesterday. I may square off today itself. Hence, I may have some vested interest in above recommendations.
Trading in F&O is very risky. Traders/Investors are advised to trade as per their risk taking apetite.
