Sudarshan Sukhani of s2analytics.com spoke to CNCB-TV18 about where he sees the market heading today. Check out his comments.
Below is the edited transcript of his interview. Also watch the accompanying video.
Q: What about the Nifty today, how do you trade it now since there are lots of events in the next 48 hours, what would be a prudent course for the trader?
A: Even yesterday, my suggestion was to avoid from taking new positions and in the morning, once the Nifty started sliding, we closed the balance of our long positions. That was a good idea because the Nifty then fell 70 points intraday, that is volatility for you, it rallied again and the chances are that it is going to go down again today.
So small positions taken in the afternoon are going to be closed today, and the Nifty trade is very simple, don