North Korea is "ready
to sink" a US aircraft carrier heading for the peninsula, state media have
said.
Gives negative
impact on global equity market but supportive for yellow metal.
Let's see what would be impact of same on Indian Equity market and Nifty??
Nifty future has crucial
support at 9080. Close below 9080 will see a downside fall till 8950---8880 and
then to 8730 mark too.
Overall trend is
highly positive for Nifty and chances are unlikely to breach 8500 mark i.e 50%
retracement level.
We remain cautious
around 23.2% retracement level of 8950, 38.2% retracement level of 8730 and
finally to 50% retracement level of which is around 8550.
Major trend
reversal seen only below 8500 mark.
At this stage... We
will expect correction in the equity market but positional traders or holding
long in cash segment remain hold their position and try to add more quantity in
panic as our long term view is highly positive for Nifty as well as for INR too
Correction...
Always healthy for markets. Steep rise will be unhealthy. So trade with levels
only.
