After a long weekend Indian mkts are being greeted by global bears with red ticks on all indeces. DOW and S&P have been falling like nine pins in the last few days. On Friday we saw some sort of pullback in the Nifty which excited a lot of bulls, however I saw it as discounting of the Monday rally that happened yesterday while Indian Mkts were closed.
Today with all global bad news, we will open gap down and my target of 2630 might get achieved today itself. At 2630-40 I will think of initiating a smal buy with 2610 SL.
todays gap down will also mean I will be able to achieve my swing targets on the remaining 3 open calls. I have been very pleased with the results of my stock calls, out of 11 calls 8 will achieve its target profits of 10-20% each whereas only 3 would have hit 2-5% SLs. For next month I will try and play these swings on stocks with options.
Magic numbers for today
NF = 2630, 2662, 2691, 2725, 2752
Cheers
SH
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