Wednesday, February 9, 2011

D-Street fall picks up speed as non-Index stocks bleed

Indian equity markets continued to fall despite of positive cues from global markets on account of severe battering by FIIs. Asian markets are trading flat to positive on Wednesday morning

While all the support levels evapourated, Nifty is looking pale at current levels. It is indeed unbelievable to see the selloff returning almost every day. As we mentioned earlier investors are in a tight spot whether to book losses in the existing holdings or to add more to their individual portfolios.

We believe the current downside will be only arrested if Nifty sees a panic fall and then a bounce.