On Friday : Nifty may trade with flat or positive mood - Any further rise is just making scope for fall further.

Indian Market with almost no great news or positive trigger to bounce back, did bounced yesterday, may be due to short covering or may be after seeing +ve DOW future. This crisis is not over it is spreading and soon we can see this as structural crisis where from financials to corporate, from wall street to real street will be seen impacted directly. We would suggest all the trading community to hold your breath when market bounce back and short at every top because crisis is spreading slowly towards Asian economy from Europe.

• Taking cues from the global markets meltdown during the previous day and the Asian peers weak opening , the domestic markets tanked during the early trades.
• The Nifty and Sensex breached the lows made in last Friday. The Nifty opened at day`s high at 3,333.85 and made a low of 3,099.90. The Nifty closed at 3,269.30, lost by 69 points. However, the Nifty recovered from the day`s low almost 170 points to close.
• The Nifty October series ended with the 20 points premium. The volume surged in Nifty futures. However, it was seen that some fresh long positions got added apart from the short covering.

HBJ Capital's Strategy for Friday....

The Nifty may trade with flat or positive mood during the early trades on friday. However, any further rise will invite long exit or profit booking at higher levels. The Nifty is expected to lose the momentum from the higher levels.

1. Nifty is expected to rise between 1-2% or flat on friday. Anyone holding Nifty SHORT Future should exit as of now and take a fresh position when upward move is done. High risk appetite can add fresh shorts 3,330 (for intra day) and 3,474 (for positional trades).
   Stocks fluctuate after better-than-expected readings on inflation, weekly unemployment claims.
2. Anyone holding PUT Option should exit and wait for these bounce to complete, may be on Monday one can get better opportunity to SHORT the market.

Wall Street remained tense Thursday, swinging between sharp gains and losses as investors examined mixed economic and earnings data for clues about the economy. The Dow Jones industrials, down 380 at one point, later rose more than 100; the major indexes were also seeing wide swings and while writing index was flat. We don't think the markets have a clear sense about the economic environment as of yet. They're clearly nervous.

-HBJ Capital Team