@AlliesFin9
Nifty expected to open with losses on global equity cues. Watch for support near 10991-11030 and as indicated earlier build up some trading positions with stop loss placed near 10882 for October series.
Bank Nifty that is entering oversold zone may lead a way out of current correction phase, accumulate bank stocks for an outperformance for October series.
At index level a move below 21000 towards 20800 may be considered as good entry point with stop loss of 20672 for short term trading.
US markets faced heavy selling pressure as investors appetite for risk trade started to reduce, index fell between 2% to 3% forcing Nasdaq, Dow and S&P near correction territory.
Cboe vix moved higher towards 29, dollar index continued to inch higher near 94.40, 10 year traded a bit higher near 0.68
Crude futures traded flat, WTI just above 39, Brent above 41.
For the day watch September series expiry related volatility and use opening gap down to buy some trading positions for October series.
#alliesfin #premarket #observations
By: via @AlliesFin Serve Stock Market
