Markets which shown resilience from the world markets since last one week couldnt sustain the selling pressure and finally closed in red with sensex losing more than 150 points . The interesting point to watch out here is the midcaps and small caps outperformed the broader market.
US markets which opened quite negative with bad economic news lost more than 3% or 240 points at one point of time but finally recovered vertically on the hopes that homeowners will get more help with their mortgages and DOWJONES closed almost flat.
Asian markets are trading in style with almost all the the indices are positive and with more than 1% gains
Indian markets after a bad day are expected to do well today , we see nifty comfortable crossing the 2900 levels , As said earlier nifty if stays above 2950 on closing basis we may see 3060-3100 on cards soons. With the interim budget nearing in we may see rally in markets today. We advice members to go long on IT , Banking and Metal stocks today . Over all we expect market to trade positive and we see markets closing today with 1.5-2% gains. Some of the stocks to watch out for are Polaris Software, Hexaware, Satyam & SAIL.
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