The downtrend in the market which started in the last week, continued still in the market yesterday. Sensex closed at 13,462 levels down by over 340 points or 2.47% from its previous close. And nifty was down by 96 points at 4040 levels. Meanwhile in the US markets Nasdaq was down by 1% yesterday and Dow closed flat. Similar is the situation in the Asian markets currently which are trading marginally up. So we can expect a volatile session today.

The crude oil prices were also easing after touching $143/barrel levels. The economic concerns back home and inflationary pressure are also putting pressure on the markets a lot.Analyst say that the next support level for the markets now would be 12,700 levels. But I feel we can even find a support levels at around 13,200 or 13,000 levels if the market sentiments dont go further down from here.The immediate support for nifty is at 4000 levels which may be breached today itself.So more downslide in the markets are expected.

Here are some of the intra day calls for today: National Aluminium(cmp 349), Sun Pharma(cmp 1392), Sterlite Industries(cmp 702), ICRA(cmp 663), ITC(cmp 187),Raymond(cmp 223), Nucleus Software(cmp 219),NTPC(cmp 151),Tata Elxsi(cmp 201).

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