Indian market opened with a gap down on Thursday tracking muted trend in other Asian markets and a sell-off on Wall Street overnight. Nifty50 saw a cut of over 100 points in opening trade while Sensex broke below 34,000.
One thing which investors should avoid doing is to go short on Nifty, suggest experts. If someone is holding long positions they should continue to maintain that while fresh longs can be added on dips.
It is buy on dips and sell on rise market. And, considering we have F&O expiry on October 25, markets will remain volatile throughout the trading session. Anecdotal evidence suggests that the last one hour of the trade becomes very crucial.
Nifty futures have already seen a rollover of 65 percent just a day ahead of expiry. This could suggest that more of short positions got rolled over in November series.
Missed call
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