Yesterday's trades shows that the fall continues. If there is any bullishness further the markets should have crossed the nifty 3240 level by this time but broken down the strong level of nifty 2860 on closing basis. Now the journey is to down side and it is being supported by the weak global cues. Now US markets -5% & Asian markets - ve. Then we have to buy even 2500 puts but for sure profit sake one may buy only 2700 puts even in small intra day rally. FII data F & O -ve and cash Market - ve. Call writing at 2900 and puts Open interest decrease at all levels.
On previous day US markets were + 6% . Asian markets are also in + ve Hence our markets may also in + ve but one can go short after 12 or 1 pm. Better not to go long. If any one wants to trade on long just go by intra day charts with strict stop loss.
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