Morning update Mon, 5thJan:

Morning update Mon, 5thJan:

The much awaited stimulus package, bullish US & European markets on Friday and the gap up open for Asians today morning could make traders ‘biased’ for 3.1K+ levels but it could be a ‘bull’s trap’.
Though the Asians opened gap up this morning, they could loose their opening gains gradually and there are strong chances to close in red.
As already mentioned in update for Friday, expect a flat or +ve open for Indian markets. However this bullish move would be for a very short life (just first hour of trade). Those who are long should exit at open itself and initiate short (NF) or buy 3100PE / 3000PE. The nifty may try to retain levels for first hour of trade followed by drifting to close in red.
The breach of 3010 would impart upper edge for bears and Tue indicates strong chances for a gap down open. The traders may carry their shorts / PE for Tue.


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