POST T-SUNAMI IMPACT ON MARKET
T-sunami That shook the world market TODAY.The japan index was down in the opening about '-14 %'. and recovered during market closing and closed weak about -10.06%.The 14% was seen after the year 1970 and the -10.06% was seen in 2008 recession/Global meltdown that was caused the Leahmen brother bail out.
The Nikki and the Yen fall impacted the Global cues today and our indian market opened very weak and recovered during market hours but still the weakness persist.The Banknifty opened in gap down of -248 points.the yesterday closing was 10948.from this closing today opened in 10700 level and gone down to the days low of 10613 level and the day high was 10805.Lastly it was traded in 10740.00.
The Nifty fell down from 5555 to 5389 and the day low was 5375.60 and lastly traded in 5441.Today in the opening we were shocked after seeing the down flow and unable to trade in first half an hour and afterwards we were expect the 'Island of reversal" and made only few conservative trade.The Net gain In Banknifty Intraday> +33+27+42 +64( positional short covered 50%)
The Nifty was unable to move beyond 5505 level and bn struck in below 10805 level.The weakness will continue tomorrow if nfty trade down to 5430 level and BN down to 10720 level.The banknifty may go down to 680 means avoid long and it may down further to 440 level.