Today Sensex negative with a gap of around 550 points, and Nifty just after opening plunged to make a low of 3799.55. As we have seen in the past also that the Nifty has a good support at 3800 levels. In the closing bell Sensex recoverd nearly 750 points and Nifty nearly 170 points to close above in green zone. Yesterday also i todl that the Nifty chart is showing a hammer patterna and some pull back is definately expected. in my last blog i have also mentioned that the Indain markets should out perform the US markets and today we have seen that.

Morgan Stanley scouting for the buyers in China and possible merger with Wachovia the fourth largest US commercial bank. Moragan Liquidation of Indain Eq continued for the 2nd day in a row. it sold stocks worth Rs. 1279 Crs. The state owned Chinese fund could buy as much as 49% of MS. CIC bought a 9.9% stake in Dec. The US Fed, ECB and the Bank of Japan came together to create a massive $247 bn kitty. Russis promised to pump $20 bn to support stocks and promised a cut in the oil tax, while China decided to scrap the Stamp duty on stock purchase.