Global Stock Indices
In the previous session, S&P500 made a high of 2940 and low of 2889. Closing was at 2930. Overall, the bottom of S&P500 is expected around Thursday. On Thursday, sharp decline is indicated. It is possible that S&P500 may breach 2800. Today as well, sharp correction is possible. S&P500 has support at 2880 (which if breached then it would open doors to 2850-2820). Avoid making long positions around these levels. On Wednesday, market may behave neutral. However, Thursday is a negative day for the equity market.
Tonight at lower levels, make sure to book 50% profit in short position.
On Wednesday, again short at higher level and hold for Thursday.
It is advised to book 50% profit in HANG SENG at CMP (24100) and European indices at CMP.