Special market update - 06.04.21

From the desk of Capt.D.Ganesh Raja

Dear Friends,

Special situations require special attention , so I thought of updating all of you. I had mentioned that the downward bias hasn’t gone away and today in Nifty sell signal was given by the system at 14675. The reward to risk ratio in this trade is 6.7:1, so I would recommend a 2x leverage trade.

For the remaining recommendation given during weekend report, there is no change in view so continue holding the positions as mentioned in the report.

Nifty Last close on 05.04.21 – 14637.80. The shorting opportunity came today 06.04.21 at 14675.0 with a stop loss of 14750 (End of day closing).

Target 1 – 14350.0, Target 2 – 14076.0, Leverage 2.0x.

Minimum profit potential – 2.21% , Asset allocation profit potential – 4.22%. Risk to capital as per asset allocation – 1%.

Minor trend: Down, Intermediate trend – Neutral with downward bias , Long term trend – Neutral.

TOTAL LEVERAGE INCLUDING UNCLOSED POSITIONS AS PER PREVIOUS RECOMMENDATION: 2.65X