Morning View

Choppy Market likely with down bias. We have seen U.S. markets lose all their early morning gains and close lower. This is likely to affect our markets today. We also have F&O expiry – a day when trading should be avoided.
Bloomberg today has an article titled “Euro Area options are shrinking fast”. It seems that we may reach a “Lehman Moment” suddenly.
Volatile markets require (a) reduced volumes (b) quick closure of profitable trades (there is no available trend, so do not wait for a big move).