Our markets are still below 13 day EMA and hence not good from a trading perspective. While there is no doubt that Indian markets will move up sharply today, taking a trading call is just gambling. We can’t predict US markets and a crash today will bring down our markets tomorrow. I have not seen any gambler's making money and so would not advice anybody to go long either in NIFTY or any other stocks. From my own experience I can say that disciplined investing and trading will succeed most of the time and gambling invariably fails almost every time. A quick buck through gambling gives a momentary kick but unfortunately it is short lived.
There will be huge rush to place the order at market opening and some of the stocks may rally today by 5 to 8%. It is not advisable to enter these stocks at high price. If the market is flat or down in the opening, (I don’t’t think that that would be the case) , then one can go long on NIFTY futures. Educomp is the stock to watch. One can see Educcomp at a critical point, just trying to cross 13 day EMA. The 13 day EMA slope is still not given the buy signal while it is givining some stability indications. If it is available at 3700 levels that would be a good buy from trading perspective. It has good support at 3500. If it drops to 3600 levels in today's market message is clear. It is heading below 13 day EMA and one should exit.
Note: It is extremely dangerous to trade in Educomp in derivatives as the price swing is huge. Taking positions beyond one's limits is not advised. Please do not venture unless you are a seasoned trader.
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