Possibility of gap down opening is there as per market out look NF will trade with increased volatility , global sentiments are bearish , dow closed below 15k at 14,946.46 64.05(0.43%) below 15k psychological mark and rating firms are seeing more gloomy situation ahead warned to downgrade .
The government might be taking measures to address the macroeconomic woes but the worst is yet to come, rating agencies have said.
Fitch Ratings warned of a downgrade if the country is unable to meet fiscal deficit target. It said reining in the fiscal deficit at 4.8 per cent of gross domestic product (GDP) would be a difficult task. Finance Minister P Chidambaram had said a fiscal deficit at 4.8 per cent of GDP was a red line and would not be breached. But Fitch said slowing revenues would make it difficult to meet the fiscal deficit target in the year ending March 2014. The rating agency had assigned India its lowest investment grade of BBB-.
Nifty eod chart is showing that nifty closed positive but candle was red spinning top which was suspicious because it has seen just after two positive candles .please have a look:-
Trade in NF as per these levels
Buy at / above: 5434 Targets: 5453 – 5473 – 5492 – 5510-5538
Stoploss : 5414
Sell at / below: 5414 Targets: 5396 – 5380 – 5362 – 5341-5312 Stop loss 5434
Stay at chat room dhanvarsha for real time updates and profit making calls http://dhanvarsha.in/chatroom/
We are expecting positive closing today . Session will be extremely volatile so entry and exit must be fast . Do not trade without stop loss order as stop loss order will protect your capital and unexpected losses.
See the option decay sold 5500 ce 5400 PE call combo at 84 traded at 56 at the time of close .
huge gains were there on both calls and puts .
this call traded above 60
Market outlook , NF levels 27 Aug 13