July 31st : Morning Call - Yesterday we strongly reco that mkt will go 80-100pts higher on friday and one can see that today.

Now, the question is shall a trader take position in this gap-up market or wait for the fall, what will be the strategies for those who has already taken long positions yesterday and are still holding?

Mkt has opened 70-80pts up in Nifty, and we are +ve on the mkt from here too, we are expecting further move upward but not a major upside. One can expect Nifty to close around 4680-4690 levels. Those who are holding long positions should book partial profit. Fresh exposure need to be taken when the market falls a little today, around 4630-40 levels are good entry point for intraday players, hence one should wait for sometime before taking fresh exposure.

-JK