US markets are in red But we have to see the closing. I feel that though the Global cues may be of anything tomorrow (opening may be - ve) our markets will move up ward in the wedge shown in yesterday's post and the target is still nifty 3450-3470. But for settlement markets are targeting to the range of nifty 3200-3400. One may think of reversal at nifty 3450.
21 October, 2008
SETTLEMENT ROLE OVER
Markets opened and closed in + ve zone as expected and the f & o statistics were also showing the a good role over particularly in Nifty future. Short covering and long positions by FIIs was observed in F & O. Presently, market is influenced by one FII selling and second is our regulator's efforts to provide liquidity to DIIs. Some news is on TV channels that a ban on short sale is imminent.
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