Nifty closed at 2660 i.e below the trendline. Volumes in the Nse cash was just Rs. 7150 Cr as compared to Rs .8900 Cr on the last day on the Feb month. Bse volumes were Rs 2590 Cr as compared to Rs. 3050 Cr. The News of the Reliance - RPL merger did not cheer up the markets. Markets closed below nearly -3% down. Nifty closed at its low. I dont think so that there will be pull back, if at all the markets stabalizes and if there is any pull back rally, its gonna be a short lived. Traders are adviced not to take any positions in thie period, as there are many reisistance levels in the chart. Election dates are also announed i.e from 16thArpil and the new constituency will be formed in the month of June. Till that time we will see a very volatile markets. Nifty can come down till 2585 levels. AIG has reported $62bn loss. HSBC planing to raise money by ways to right issue as banking peers strugle to stay afloat. Rupee is nearing 52 V/s dollar. Crude is again fallen down to $40 per barrel. Gold have bounced back a bit. We might see some pull back in gold prices as the Equity markets are not performing well. Exports have fallen for the 4th straight month.
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