USA Inflation data not upto the mark. Thus mkt going to open negative 200-300 pts. Technology stocks will be under pressure.
Continuing from where we left yesterday morning, the most important Nifty level is 17750. If we close today above it, then long positions should be held. Below it, exit longs. Another important point is 18114 level in the Nifty. Itz the high of the last quarter and such levels act as big resistance. The same point was mentioned when I gave the monthly range on 1st Sep.
What to do today - wait and watch. Don't exit longs as a knee jerk reaction. If we see follow up selling after gap down, then we take a call on long positions. Till then show some patience.
Derivative. Data is not only strong but very strong and option chain shows it. So as per me, this a shake out and may last for a day or 2. Dips in a bull market are bought quick and the move is faster than the previous move.
So, simply wait and watch.
What to do today - wait and watch. Don't exit longs as a knee jerk reaction. If we see follow up selling after gap down, then we take a call on long positions. Till then show some patience.
Derivative. Data is not only strong but very strong and option chain shows it. So as per me, this a shake out and may last for a day or 2. Dips in a bull market are bought quick and the move is faster than the previous move.
So, simply wait and watch.
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