US Markets bounced back off the support levels, especially S&P pulled back with high volumes to close the day in green. It started to be another nightmarish session on Wall Street only to end the day in peace. It is time for another pull back rally and here we go.
D-Street was crushed yesterday as if no tomorrow. Midcap unwinding is underway and we will see more and more midcaps join the slide. But for the time being it is time for a quick bounce back. With F&O expiry slated for tomorrrow we expect volatility to spike up but Nifty is likely to gain traction from these levels. 4800 appears to be a temporary support level.
Spain is added to the Euro woes kitty...We mentioned long back about PIIGS and things started coming true spooking investors. It is time to stay away and wait for markets consolidate. For a small investor these markets will be night marish.