Morning update Wed, 12th Nov:

Morning update Wed, 12th Nov:

The excessive drifting y’day and close in support zone have made the task for Bears a bit difficult for today’s trade.
It’s better to add trailing SL to all shorts / puts at the open itself.
Though Dow’s close in red y’day as expected…..the recovery in last hour followed by dow futures trading +ve would influence surprising moves in our markets. Still the trade till noon don not indicates any big up move. It would be interesting for today to watch if Nifty trades below 2915. It could drift further to much awaited 2860 zone which would offer good support and unable to break it before 01:00 pm would invite some short covering.
On higher side, clearing the 2960-70 zones would lift it up over 3K levels.
The trades in short mode need to trail with monitoring SL till 01:00pm.
If SL hits, better to concentrate on intra-day trade for rest of the day.