Dec 02, 2016 08:33 AM IST | Source: Moneycontrol.com

Focus on oil

We had a bad day yesterday though a some part of it was also because of the weekly Bank Nifty’s option expiry, so may just want to give it a day.

We had a bad day yesterday though a some part of it was also because of the weekly Bank Nifty’s option expiry, so may just want to give it a day. However, the way the SGX Nifty is indicating straight away a gap down that is not good news and that is not necessary that gap down would be immediately bought into and that is my big worry because has this market now gone through a countertrend rally which is now getting over if that is the case then with the kind of long positions that have been built in they will have to be unwound.

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