Hello folks the Texas cowboy has shot himself in the foot by not extending waiver to countries which export oil from Iran. In future this will decrease the dependency on oil by these countries including India and will hasten them to use alternate energy source which is a big plus for our environment and economy.
This will also mark the beginning of end of US Dollar. In a way it’s good for us in long term to get rid of Oil and Dollar, however short term will see Nifty slide down.
Major Nifty pivot level is 11,590, break of this will take it down to 11,400 and 11,290.
My previous recommendation to buy Suntv is doing well so far. I would recommend to keep stop loss at 565. Remember our ultimate aim is to protect capital.
You never know what kind of setup market will present to you, your objective should be to find opportunity where risk reward ratio is best.
ArthaNiti 