No matter what the cues from SGX Nifty suggest, the technical setup of the markets is badly damaged. A fall below 38044/11260 will push the markets towards 37700/11160.
The bulls will get some relief if the markets can close above and sustain 38353/11353.
Conservative traders can exit their positions (long as well short) within the 38044-38353 (11260-11353) band and look to initiate fresh trades from Monday.
In stocks, we continue to have aggressive longs as well as shorts.