Indian markets witnessed huge volatility and moved in random manner keeping invetors and traders in panic. At last closed with loss of 1-2% yesterday.
US markets fell heavily on back of retail sales beaten than expected and closed in red with 2-3% fall.
Asian markets are trading in blood red of 2-3% and tending to more fall as already due for correction post bear market rally.
The Indian markets will opening gap down and likely to beaten more due to heavy profit booking and exiting the counters heavy shorting may witness in today’s trade. Nifty is supported with crucial levels of 3400 and if it attempts to fall below 3400, than next target will be 3250 levels.
Overall we advice members to be cautious and avoid longs, exit if any holding.
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