US markets were opened positive yesterday, but gradually came down as news from greece weigh in. VIX has spiked above 22 again. Greece banks were cut off from European union funding, which was feared by liquidity dry up soon and possible Eurozone exit. Markets are oversold and long awaited Facebook IPO may be a reason for markets to bounce back but it would be a short term fad, as enthusiasm is already waning. Asian markets were flat, thanks to expanding Japan economy at 4.1%.

Nifty Trading Tips & Outlook

Our yesterday's buy positions around 4872 ( Spot Nifty ), We are looking at 4950-5000 levels to square off. One may not look for short Nifty as a bounce is expected due to Facebook IPO effect. Cover up short positions and one may buy Nifty for two trading sessions.

Check out our previous recommendation here