InvestorQ : What are some good trading tips for Friday 12 June? Do you advise some caution being the last day of the week?
Deepa Salunkhe made post

What are some good trading tips for Friday 12 June? Do you advise some caution being the last day of the week?

Answer
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diksha shah answered.
3 months ago


On Thursday the slowdown in the US markets literally influenced all global markets with Dow, NASDAQ losing 6-7% and Europe over 4%. SGX Nifty is trading more than 3% lower on global cues. Also, traders will remain cautious of overnight positions over the weekend.

· SGX Nifty hints at a lower gap opening on Friday. Traders should use this opportunity to cover all short positions in the market. Long positions can be held on for now.

· Markets will be volatile on Friday with rise in VIX. Avoid fresh long positions as it will be a sell-on-rises market. Short side opportunities will be limited after the gap down.

· Investors can buy Sequent Scientific at Rs.85 and Engineers India at Rs.66 for 30% upside targets. Short term trading could be a doubled edged sword on Friday.

Trades must keep an eye on the GST Council Meeting on Friday. Nifty is likely to take support around the 9400-9500 mark during the next week.