As expected the Nifty could not cross the 6050 spot level convincingly.And it dropped with some entity selling off in big numbers. Is the sell off over I do not think so. There is all likely hood we have seen part 1 of the sell off.There may be more in the offing, we could even see levels like 5890 spot in some time to come ...may be not today but once the employment figures come out tomorrow in the US. and it does not read well then this could effect all and sundry world over.The rupee needs an eye on it .Does not seem as strong it was before, getting tired and we may see a dip to 63 levels soon enough, as will the bank nifty which will track the rupee soon.
We need one more correction before the long ride up begins, when both the FII's and Dii's start buying and we see new levels on the nifty coming up.By then most of the global markets too would have corrected as of now 8 markets are in correction whether the DOW an S&P will join them is the question.
We need one more correction before the long ride up begins, when both the FII's and Dii's start buying and we see new levels on the nifty coming up.By then most of the global markets too would have corrected as of now 8 markets are in correction whether the DOW an S&P will join them is the question.