Indian equity benchmarks closed at seven-month lows on Tuesday and underperformed the global markets by shedding more than 260 points on the Sensex.
The Nifty managed to hold the 5300 level as it touched an intraday low of 5,303.40, dragged down by almost all sectors.
Market may pause at 5100 range.
We need a strong Global support in this scenario.
Auto and Banks may drag the market further. This is a very important point.
Because today State bank of India closed Rs.31 below,State bank of trvancore closed Rs.13 below,SIB closed Rs.0.45 below, Axis bank closed Rs.36 below and my favourite Yes bank closed in Rs.12 below in Red.
Similarly Tata motors closed Rs.35 below in red.Hero honda closed about Rs.70 below in red.
Do not panic in this situation. The situation will be ok within a few months.
I think tomorrow's market will be positive because the annual growth rate of our country showed a significant increase.
So if tomorrow's market is positive, make correct decisions. Sell the yes bank at 265.
Regards Hari " लोका समस्ता सुखिनो भवन्तु "
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