Morning update Mon, 27thOct:

Morning update Mon, 27thOct:

On Fri it was mentioned (The oncoming Monday indicates some volatile movements and there are some chances for a ‘surprising’ bounce as well so it’s better not to carry overnight short positions)
The SGX CNX Nifty opening at 2600 itself confirms such possibilities. One must observe for the trend carefully at the opening and if nifty starts any movement in the upward direction, one may ride over long for intra-day gains.
However with Asians weakening further, the nifty may drift further from opening itself as mentioned earlier in the post ‘VIJAYDASHMI TO DIWALI’.
The intra-day traders may initiate with short but such shorts must be covered before EOD as the oncoming Wed indicates strong chances for a sharp up move.
The high risk traders may carry long/ call for Wed initiating at EOD levels of today.