Wednesday, September 5, 2007

Nikkei has broken an important support! Dow in negative as well.

Nikkei had an intermediate support at 16175, which it had broken and is around 16158 levels. We expect another 200 points fall in Nikkei which could happen tomorrow and currently DOW is already down around 140 points.
If Dow closes in -ve, we should see a similar effect on our markets as well, that is Sensex, and we might see a correction of around 2% in Sensex as well by tomorrow; this is a possibility from our end, right now its 10:55pm India time, and Dow closes at 1:30am indian time, so if Dow closes in +ve then this effect may not happen, but again as said earlier, Nikkei has broken its important support, so things dont look good right now.
Nifty is showing resistance at 4500-4510 levels.

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