Friday, April 4, 2008

Monday Could be big day

Right Now at 2.58 pm as I am writing just 32 minutes from Market closing 4640, The Nifty might closein at 4620 and 4620 was the big support the bulls were taking uptil now. Today Friday is a important day for US market trading as US Jobs figures are going to be released today in the evening by 6pm India time. Now if the Jobs figures show bad news the US markets might drop sharply. Asian Markets (should I say just hangseng) which have not gone though bad patches inspite of US markets having bad days of lately can react by opening Gap down on monday which can cause a bad opening for us on Monday. Lots of 4500 puts have been written and the premium too is sufficeintly down compared to March series, hence 4600 put could be bought at near about 140, but since tommorow i.e Monday could be make or break day hence 4800 call or 5000 could be added as an hedge.

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