SECULAR damage took place all over the world in stock markets and the financial world. Huge wealth destruction took place in all asset classes except gold. Volatile trading in the US markets and final closing at marginally lower( THANK HEAVENS) eased the fears a bit.Every one is talking abt. decesions to be taken in G7 summit for sanity to return to world financial order.
Back home we did make higher lows but did not make higher highs..we managed to stop at crucial levels on friday..there will be strenght only above the level of 3400 , supports/ resistance at app 3100-3600.. Selling looks very overdone and all indicators can turn anytime..some good stocks which are available today at bargain prices due to capitulation can surely be added for your portfolio for small-midterm ,or a trading bounce in a relief rally. Watch the opening of Asia on monday, I feel next week trading again will be quite volatile till sanity returns..trade with care ..cheers..
