Nifty – As discussed yesterday , had given a call for market fall till around 19200. Still expecting same.
Discussion in markets about state of NEGATIVE world economic situation. Agree with same. However considering the long term chart above (the 1st one), do not see any ending pattern as yet. Two three possibilities there warrant a closer look at short term scenario for the time being.
How the markets behave in the ongoing correction will definitely form patterns which will indicate future course of things. A strong pullback/reversal on the cards in any case around 19000-19300 levels.