As posted earlier, NF had taken a support at the declining line of 2699 and bounced back to 130 points. At this time, Dow is trading 250 points down on the backdrop of Nortel bankruptcy and and bad retail data. But frankly speaking I dont give much attention to news.
Dow has already broken the support at 8394 and is headed southwards to 7800-7850. When? Well, its a matter of time. And our very own Nifty and Nifty futures have 2 options in front which I can see. One, it can fall a sharp 200 points to 2650 range or betray all global sentiments and move to 2950-60 range and then fall down. An ultimate move towards 2200 or below is quite possible. But at this point its tough for me to make a wild trading guess for tomorrow. Probably we will have a better picture once Dow closes and Asia starts trading.
Dow has already broken the support at 8394 and is headed southwards to 7800-7850. When? Well, its a matter of time. And our very own Nifty and Nifty futures have 2 options in front which I can see. One, it can fall a sharp 200 points to 2650 range or betray all global sentiments and move to 2950-60 range and then fall down. An ultimate move towards 2200 or below is quite possible. But at this point its tough for me to make a wild trading guess for tomorrow. Probably we will have a better picture once Dow closes and Asia starts trading.
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