Re: Bloodbath on the market
This is not about levels on teh sensex anymore. Nobody really cares about 18000 or 18500 or whatever. Shanghai, Nikkei, Hang Seng, KOSPI, Jakarta have all fallen more than us today. While in europe CAC, DAX and FTSE are just about flat to marginally positive right now. Depending on how they close and then how the nasdaq and dow close tonight the market will move up or down tomorrow. If the DOW actually falls tonight as the Dow fututres is indicating then I don't see how Asian markets can rally tomorrow. In that case the best case scenario you can expect a 1-2% fall tomorrow, worst case could be anyones guess. People are cheering about the fact that we closed above the intraday lows but, we still closed down 875 points. I mean if there was guy yesterday who was some how managing to pay for his losses in FnO, today he has lost even more. If there was margin pressure yesterday, today there is even more. So, its not index levels you should be watching right now, its the world markets.