Market Outlook

With global markets getting badly hit, Indian markets are also slowly reacting to the global situation.

US markets are looking really bad and except for couple of odd bounce backs, it has certainly entered a medium term down trend. Infact it is looking ugly in the short term.

Indian markets though relatively strong also look set to reverse the medium term uptrend which has prevailing right from September . 5800-5820 shall be level to watch out for.For any close below that, it might be good to take your profits home and then wait out the turbulent times ahead.

Looks like the party time is over in the short term! It is not a coincidence that our market top has come at the time of mass euphoria for the Reliance Power IPO.