Tomorrow we shall see a repetitive of what we saw today, we might see some upward movement early in the morning followed by steady downward trend and then a range bound trading with more falls later in the day if the European markets open in the red.
We need not look for support from the Asian markets which will in all likely hood go down as it did today. Now what the Chinese have in store would be the game changer, with new IPO's coming into the market, cash is going to be very tight.And whether the yuan will drift lower,which would mean that the currencies will take a hit all round.
We can safely assume we shall see sub 6750 levels tomorrow and the Nifty might take support at either,6735 to 45 levels or even drift lower to 6720 levels. Adverse news or any negative results will see the index crossing 6700 levels and take support finally, at the 6650 level. If th volumes are much lower than today we could see sudden swing for the upside.Being vigilant is the name of the game tomorrow.
On the long term, where is the election headed to.....BJP win or a fractured mandate.....the later has begun getting more traction.Is it why the FII's are not too certain of the outcome hence hold !!!!! In any case this bull market is here to stay, whether we have a minor correction or a major one, the markets will head higher.