Morning update Thu, 20th Nov:

Morning update Thu, 20th Nov:

Today, it’s Thursday…………………..the only thing to mention.
Rest, everything was mentioned from the day, week started itself. (Most of the traders have already brought puts or shorted nifty as mentioned yesterday)
The ‘anticipated’ gap down today may see the nifty to open at 2540 mark (target mentioned earlier) or even breach it in open itself. Whatever the case may be, the further drifting after open could see the 2540-2490 supports under threat and the breach of 2490 could weaken the nifty further to taste 2430 or even lower levels.
With Asians & Europeans trading in the similar way, the chances for any recovery seems difficult.
The traders know well how to use ‘TSL’ to save their profits.
Though there are some chances for downtrend prevailing on Fri too, the traders should book profits at the EOD today, and re-initiate fresh after opening on Fri.
 
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