Update: Yesterday's open positions on short side were covered at Nifty 4910.
Yesterday, Nifty had tried to rally but couldn't sustain at 5050 levels and give up some gains. We recommended to short Nifty at 5050 levels and book partial profit at 4960 levels. See here.
In asia, China was weighing on sentiment, as Consumer Inflation is higher than expected. Asia trading in red too.
Yesterday, Nifty had tried to rally but couldn't sustain at 5050 levels and give up some gains. We recommended to short Nifty at 5050 levels and book partial profit at 4960 levels. See here.
US markets closed mixed as Cisco's earnings weigh down on Nasdaq to close in a negative territory. Economic data from US was encouraging and Banking Sector to push stocks higher. Dow Jones and S&P closed in a positive territory. Meanwhile European headlines were calming investor's nerves as Greece might work out a coalition government formation and avoid Euro exit by assuring the bail out terms. Europe closed positive. The headlines from Europe will dominate friday's trading session too.
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| Nifty Trading Tips |
Tips & Outlook Today for Nifty
Our View is to short sell Nifty around 5000 levels. Yesterday's open short position were covered if Nifty drift lower. Nifty will see sub 4900 levels in a coming week. No long positions created and Short Nifty on every rally for now.
Our Previous Recommendation
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