After yesterdays collapse markets across the world are bleeding with deep cuts, Recent development in Europe are shattering the world markets, the headwind coming from this region has hammered US markets and European Indicis were butchered on the fears of debt worries of European countries like Greece, Portugal & Spain.
Market across the world fear that even with a bailout for Greece, Europe’s debt crisis could spread to other weak euro zone countries. that caused US markets to end its worst session in the last three months.
Asia is down, Nikkei is in the red with cut of 2.5%, Hang Seng and Shanghai Composite is also down 2~3%.
Indian indices will open in the red at 5050 levels and support for the day coming in at 4990, Till that level holds we may see a bounce of 50 to 80 points in next couple of days.
F&O Snapshot-
Market Strategy : Our Short position has rewarded us with handsome gains and I’ll advice to book profits at 5050 today.