What happened overnight?
DJIA - 1.20% 🟢
NASDAQ - 0.39% 🟢
EUROPEAN MARKET - 🟢
ASIAN MARKET - 🟢
SGX - 0.37% 🟢
CRUDE - 1.19% 🔻
US10Y - 🔻
DXY - 🟢
INDIA VIX - 🟢
Good morning, friends. I hope you're doing well. Yesterday was a tough day for trading, especially for trend followers. Constant ups & downs didn't give clear follow up move if we not consider last hour. US Market also closed in green though. IT stocks after being in some pressure have started looking good. Not much news flow as of now but we've #FINNIFTY expiry today which is enough to give rollercoaster ride today as well but overall outlook for today is positive if Bulls can save previous day's from breaking.
Caution: Range has widened. Expect bigger moves now.
Important levels:
S : 17000/16850/16700
R : 17000/17100/17250
S : 39300/39000/38800
R : 39500/39700/40000
Sectors I am interested in for Today:
✓PHARMA
✓IT
✓PSUBANKS
Stocks in watchlist:
GLENMARK
TCS
CANBK
NOTE: Trading has become comparatively tough especially for trend followers. Stick to Intraday for a few days. Keep your overnight positions hedged. Opportunities are obviously there but all depends on execution.
Wishing you a profitable day ahead.