In the last free update on our website, we mentioned that global markets would remain positive until Thursday. S&P500 after making a low of 2500, moved above 2700. Indian Nifty also made a low of 10300 followed by high of 10640.
We had alerted that on Friday, a downtrend is being indicated. At the time of writing this update, SGX Nifty is trading at 10350.
Is the downward trend over for now? Or is Nifty going to breach 10000 in coming days? Will S&P500 drop down to 2300? Or will the American index recover?
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PS: We are short on Nifty @ 10630 and S&P500 @ 2670 & 2700. S&P500 is currently trading at 2580.