Yesterday Global markets were felt the tremour in the US markets. US markets which closed negative 770 points in Dow had a tremendous impact on the other markets as the $700 bn bailout was rejected. Hangseng opened negative. Indain markets to felt the same feeling in the early opening session. Nifty made new low of 3715.05. Last time we saw Nifty was in 2007 April. Sensex's low was 12153. This level we have seen in 2006 Sep month. Rupee depreciated to to make a low below Rs. 47 per dollar. But all these reasons did not stop Indian brousers to pull back soon. Nifty closed above in green at 3921 with a gain of 70 points. Sensex gained 265 points to close at 12860.On September 17th I have mentioned that, though the current scenario in US are week, still the other emerging markets will definataley outperform the US markets. The bounce back will be very sharp, but not in the short term. Nifty has a good support at 3750. In the Nifty chart we can see that the Nifty is trying to take support at the Trendline in the last 2 days.
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