By the close of yesterdays trade, not many were aware of the developments that are waiting to unfold in US markets. Hence, 3800 put was available at 105 Rs, by this, every one expected , Nifty Fut 3695 not to get broken going forward.
But with the new developments, I expect the market to open 3710 (Nifty Fut) or just above 3695(Fut) but may soon break 3695(Fut) and initial target going to be 3658(Nifty Fut). One good thing as of now is, there is no strong Long build up in the futures as of now as every one was talking about correction. Still, thee will be some rush to exit door will be happening.
And into Asian markets opening, Nikkie is in the shouting distance of breaking the previous low. Kospi and STI are faring better in that count. One thing is sure. "We will have one more round of shedding of weaker hands out of the market".
Discalimer: This post is not an solicitation to trade with levels mentioned here. Please, trade at your own risk. And I am not responsible for your Profits and Loss.
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