Nothing much from the trade from US markets except that it was very volatile and it was not a washout as was in Asia , specially here in India. This OCTOBER MONTH will go down in history as the mother of CAPITULATION, for world financial markets and a huge watershed which decades ahead will be discussed by TAs, for clues and Analysis.
So whats in store next week, most people are seeking views and help of experts as to how to proceed...equity/commodities etc all giving no safe heaven????The fact is no one knows, but someone is buying..People looking ahead and with cash have bought in the last few days,including my wife, and will buy scrips if they dip more for trade and hold....People with Resource capacity & risk appetite only should buy here , otherwise just trade the trends with options ,NF, or one can do daytrades..The fact sadly is that most traders/investors world over play on the long side only as they do stocks ..and are not savvy in futures/options..thus their pain is more high as they dont play the short side of the market.
Coming back home S/R in NIFTY next week will be around 2800, with support at around 2350 & resistance around 3050.It being a Diwali week and also truncated , volumes maybe less..Take your call, will look at some charts tomorrow and try to make some sense out of them for future..cheers..
