Same is the case with the IT index, we could see people scouring for protection under pharma and consumer stocks, HUL looks good as does ITC. Auto should still hold or do well, TATA MOTORS adr are up currently by 1.22 percent on NYSE. Though ICICI ADR is currently up, we need to see how it behaves tomorrow when the market moves down.
The movement of Dollar Rupee will come into play too, Dollax is down but the there are demands coming up soon and we could even see rupee crossing into 62 level which does not harbor well for the market. This situation may remedy itself by opening and we could see at 61.75 or 61.80 level.
Over all it is going to be a very volatile day and one needs to be very sharp and get ready for any eventuality.