Its been a very volatile session for the Indian markets. Bse Sensex plunging down to sub zero levels from the high of 200 points and again back to northward direction to close up nearly 110 points. But Rupee could not stand this effect. Rupee continued to meltdown. It slide nearly 47 for June expirty contract and current month was down to 46.80 levels.

In the Intraday trade nifty made a low and high of 4924 & 4980. As mentioned that the Nifty will face stiff resistance at the 4980 levels. Nifty closed at 4954 and Sensex closed at 16520 levels. Markets will continue to slide. Nifty once again closed down the 200DMA.