Morning update Wed, 4th Feb:

Expect a slightly +ve open for Indian markets and nifty may try to breach yesterday high. The traders who are holding longs / CE must use this bounce to exit all long positions. The intra-day traders (long) must be very cautious with strict SL. The intra-day high before Europeans open should be used to initiate short / PE and the traders may carry those shorts / PE for Thursday open.

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