Morning update Fri, 14th Nov:

Morning update Fri, 14th Nov:

The good IIP no. & inflation as well recovery of Dow in last hours to close 552 points up would explain why it was mentioned to chase the decline with TSL and let the nifty make a ‘safe exit’ for your shorts on Wed, 12th Nov.
Today, expect a +ve open for Indian markets but any such bounce would be an ‘invitation’ for fresh shorts. The nifty is expected to open around 2.9K mark and sustaining above it could enable it to see even 2950 levels. The trade above 2950 may invite short covering to see 3.0 K levels.
However, unable to sustain this gap-up would drift it towards 2850-2830 or even below it at major support zone 2775. Any tough resistance on higher side could be used for intra-day shorts and it’s better to exit all positions before EOD to initiate fresh on Mon.
 
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