Morning update Wed, 15th Oct

Morning update Wed, 15th Oct
Yesterday, Dow moved up to +400 pts initially and tasted -300 pts as well finally closing in red as expected. Today, Dow may experience yet another ‘fall’ with it’s futures trading -145 as of now.
The Asians trading weak could see nifty opening around 3450 or 3430 levels. The weakening would prevail all the day in spite of various attempts by government. The RBI’s, FM’s or PM’s attempts would not influence anything for up move today but it can be assumed that it could restrict a ‘big fall’ on cards to some extent.
The 3475 & 3425 are the initial supports which are under threat to breach in the open itself. The 3370 levels offers some pause for further down but breach of 3370 (possible today) can drift it more down till 3330 or 3300 levels.
On the higher side (possibility is very less for today) 3545 / 3595 /3635 are the levels offering resistance and breach of these levels would enable nifty to see levels above 3.7K (It would be not less than any miracle if happens so today)
One may go short for entire day boldly and intra-day traders should be cautious to short first then cover only.
High risk traders may carry shorts / put overnight but any such shorts must be covered at opening bell (09:55:30IST) on Thursday.