With Indian markets tumbling with 500 points in Sensex and Nifty with 150 points amid selling spree by FII is worth worry and corporate results could not enthuse the market and selling across the board continues.
Again Due to overnight US DOW tumbling again with 500 points and NASDAQ with 80 points due to poor earnings by biggies.
The cue from US followed again by shedding across Asian bourses is found in blood shed almost all markets and loosing around 5% to 9% .
The Singapore Nifty opened with a low of 6% and quoting below 3000 level and is also a sign for the market to be in below 3000 below levels.
Today Market opens with deep low making a historic low of 3000 below in Nifty and Sensex in Year low. There might be likely bottom fishing in all biggies by the smart investors.
The positive for the market is that crude dipping below 67 dollars is worth note and government may initiate a fuel price cut at any time and also aids the forth coming elections in four states. And also RBI likely cut another Repo rate by 50 BPS at any time.
Watch out TCS, Wipro, DR Reddy labs result. RPL is quoting below 100 levels is worthful. Watch out surprising gains on fertilizer stocks in lower levels.
Overall we expect a negative opening and downfall and stabilizes around Sensex at 9650 and Nifty at 2800 levels. Buying may emerge at these levels.
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