HBJ Capital's Views for Friday:-
Indian Stock Market on Friday is expected to fall around 2-3%. On Thu, Asian markets were trading weak; Hang Seng down 6.6%. Inflation for the week-ended November 1 has come in single-digits at 8.98% compared with 10.72% the week earlier. This is a positive news but across globe inflation is coming down, nothing specific to India.
US markets were down 3-4% on Wed & highly volatile on Thu (were up 2% up while writing).
Markets were trying to absorb rising unemployment claims and reduced outlooks from Intel Corp. and Wal-Mart Stores Inc. Asian & European market were also seen weak on Thu while Indian Markets were closed on Thu.
#1. We strongly request all trading community to close Nifty SHORT or PUT positions during Friday market hours. Pls do not keep any SHORT for next week.
#2. In case if market opens up with gap down and slowly recovers then one can take Nifty LONG Position or CALL Option just before market closing.
#3. DONOT TAKE NIFTY SHORT/PUT POSITION ON FRIDAY!!!
-JK, Equity Research Analyst.
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