Infy ADR is down by 10% and thus we know it will gap down in India too as results of Infy and TCS have not gone down well with the market.
Welcome change in SgX after 9 days of rally. It shows a cut of 90 odd points. The Index is still not over bought on many indicators but now shows negative divergence. This is seen in many largecap stocks.
We have been saying about a decent dip since the last 2 days, looks like we may get it this week. Expecting a cut of 300 or more points.
The next 1 month will be more suitable for strategies in trading rather than buying naked options.
Nifty. Support is placed at 17540 for the week and resistance at 17967 for the week.
BankNifty. Support is placed at 41100 for the week and resistance at 42650 for the week.
Sell on rise to reduce positions or stay away. Not the time to buy.
