Sokhi Market Outlook for 16th December !

Markets yesterday had very high volatile swings , Nifty which crossed3000 levels in the early trade could'nt sustain the selling pressureand lost more than 60 points at one time , but with the annoucement ofrate cuts by banks and closed finally up by 2% .

US markets were in negative teritorry for major part of the day andclosed down by 0.7%. Crude shot up to 50$ as there would be productioncut by the OPEC.

Asian markets which opened in negative seems to be recovering withHANGSENG slightly trading in green.

Indian markets to open flat to positive but we may see profit bookingas the markets are overbought with no positive triggers ahead , weadvice members to go short at higher levels as we see profit bookingin the indices with expected bad set of advance tax numbers and mostof the stocks are at the overbought levels.

There could be some consolidation and a swing of 100 points either waybefore markets take some direction , we advice members to be cautiousas markets looks to be highly volatile . We see markets to loose 1-2%intraday.