- SGX Nifty is down by 10 points
- Asian markets is mostly down
- Oil is slightly down
"Worst case scenario for Nifty is that it can drift down to 7800. There Nifty should find support in today's trade."
"However if Nifty opens with a Gap-up above 7950, then it will be a very positive signal. Nifty will keep moving higher in such scenario. Further, if Nifty closes above 8000 today, then we can safely assume that it is headed to 8300."
Both the above mentioned conditions are still relevant for trade today. So keep these two points in mind while trading today.
We have 4 open long positions of Apr Futures. In these scrips, take following actions in trade today :-
- IDBI Apr Fut to be sold at 73/73.5 if it does not open with strong gap up. It was bought at 71 and initial target given was 80.
- BANKINDIA Apr Fut to be sold at 99/99.5 if it does not open with strong gap up. It was bought at 98 and initial target given was 120.
- UNIONBANK Apr Fut to be sold at 136/137 if it does not open with strong gap up. It was bought at 134 and initial target given was 160.
Do plan to take action as I had mentioned in my last evening post Banks on Swing - Buy God News and Make Money
Take a look at the current status of 4 buy positions of April Futures held with us :-IDBI : Bought 71,Close 72.75
BANKINDIA : Bought 98,Close 97.7UNIONBANK :Bought 134,Close 133.6
HEXAWARE : Bought 268,Close 252.2