Morning update Fri, 2ed Jan:

Morning update Fri, 2ed Jan:

The New year started on a +ve note and nifty touched 3050 mark as mentioned.
With many bullish signals indicating the probable target of 3.1K levels, the market is heading towards the possible fall on Mon.
Today’s trade & Mon open would be a intermediate phase between the achieved rise and probable fall ahead.
Though the Asians (Hangseng) opened on a highly bullish note, their up move is likely to be restricted after Indian open.
The traders should prefer intra-day trade with strict SL for either side. Any indications for weakening after a few minute of trade should be used to go short or buy 3100PE. The open for Monday would be a hurdle to carry those shorts and the traders should judge better with relation to performance of Europeans and Dow futures. (one may enter short / PE after Mon open also to avoid risk)
On Monday, the Nifty would drift after open followed by a gap down on Tue and the shorts / PE could generate good profits.



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