It was a magnificient pull back in the late hour by the markets where NIFTY managed to pull back nearly 100 points but ended in red at 2800 . Sensex closed low with a loss of 100 points .
US markets which recovered in the mid session after early selloff couldnt sustain the pressure and were drifted down and DOW closed almost 250 points down
Crude which is now not into consideration has suddenly spiked up to 58% with fears of Output cut
Asian markets are trading in red and are in range bound with negative divergence , SANGHAI is recovering and is almost flat
Indian markets are expected to open lower , With a U shape recovery yesterday we expect bears may take beating after lower opening , We see some recovery in the cards after continous four days of red . US markets bounced back two times from low 8000 levels and is almost at that stage , if bounce back occurs at that point we see the 8000 as the bottom for US markets for some time . Short term quick rally may not be ruled out at this stage . we advice you all not go short for the day
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