It was a virtual stampede with price erosion , smashing all support levels, reminding us of 21-22nd jan,2008. This had been the worst fall since last 16 yrs as reported by CNBC. I had written on thursday, that this will take three days. Today, is the 3rd day.Also, last Diwali Muharrat Session ended in negative sending a message to all which has ended from Diwali to Diwali.
Hopefully,downside from here is limited with support at NS 2428-2230-2130 though falling market like this has no support. Today's support level is NF 2460-2356 with target of 2649-2758.Close over 2740 is required for any upward momentum upto 2884-2912-3050. HAPPY DIWALI TO ALL..
Monday, October 27, 2008
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