Morning update Mon, 20th Oct:

Morning update Mon, 20th Oct:
In the views for Friday, 17th, it was mentioned about ‘bullish breakout on Mon’.
Today, expect the nifty to open around 3.1k mark or slightly above it. (On Fri, it was mentioned to go long from EOD levels & cover on Mon).
With Asians trading +ve, it could move above 3140/3160. The trade above 3160 would propel it over 3.2k mark and ‘short covering’ would lift it up above 3260 or even within 3.3K-3.4K zone.
Today, the chances for drifting (as on Fri) are very less hence lower levels are not mentioned.
The trader may go long for intra-day moves from the opening itself and it would be much safer to cover all longs before EOD. Prior to Oct exp, there are chances for some more up but it’s still risky to carry longs overnight.
 
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