Barack Obama was sworn in as the  44th US President yesterday. USA witnessed a great deal of change after Bush term was over and Barack Obama took over yesterday. The market men expected a small pull back rally yesterday in the US markets hoping that the bailout package announced by Obama would come in soon. But what is happenning is just opposite to that.

Dow managed to slip below the psychological 8,000 levels yesterday and also closed below it. The last time it went below 8000 mark was in last week but it made a smart recovery from there on. But yesterday it closed below it making the trend bearish. Dow Jones closed 4% downt at 7,949 levels and Nasdaq closed  5.78% down at 1,440 levels yesterday. The fear of more banks performing badly in the coming days led to this huge fall. Bank Of America, Royal Bank Of Scotland fell the most yesterday. Lets see if Dow touches the all time low of 7,552 levels in near future.

Meanwhile reacting to this development in US markets, the Asian markets have opened the day in deep red. Nikkei-225 and Hang Seng are trading close to 2% down  each in the opening trade. So we can definitely expect a huge gap down opening today in Indian share markets. The Indian markets also closed in red yesterday when sensex lost 2.45% to close at 9100 levels and Nifty closed at 2796 levels losing 1.77%.

Some intra day calls for today include :

Sell DLF below 186, Stop Loss: 188,Target : 182, 176

Sell Reliance capital below 409, Stop Loss: 413, Target : 397,390

Sell Icici Bank below 389, Stop Loss: 393, Target : 381, 375.

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