Global trend are turning negative. The S&P 500 broke support at 1420, following a trend channel breakout, both signaling a correction. The Dow Jones Industrial Average similarly broke support at 13300 on the weekly chart. Bearish divergence on EOD charts, Momentum indicates the weakening up-trend. Nifty again took resistance around 5725 on Tuesday. Until It is below 5735 we can't expect up move in the market. New series will start from Friday and I expect a very profitable series in coming Month. Your money can be minimum double or may be triple also in November series. I don't expect too much correction in market from here but 5530 or 5470 may kiss.
Short players can hold Nifty with the stop loss at 5735 spot price. If Nifty sustain more than hour above this level then we can expect a up side target for 5770.
Nifty 5600 put has highest open interest so It seems that market will take support around 5600 level in oct series and correction till 5530 expected to come in next series.
