we may open a gapdown of around 70 points on nifty
US markets fell sharply as worries about more credit losses in the banking sector and the earnings season weighed on stocks. Financials led declines, Citigroup fell 23%. In other losers, Apple plunged on news that CEO Steve Jobs will take a medical leave of absence through the end of June. In stocks in news, North America's biggest telephone equipment maker Nortel files for bankruptcy protection. A dismal picture was seen on the economic front with retail sales dropping 2.7% in December and import and export prices falling for fifth straight month.
The Dow fell 248.42 points, or 2.94%, to 8,200.14. The S&P 500 plunged 29.17 points, or 3.35%, to 842.62. The Nasdaq composite index declined 56.82 points, or 3.67%, to 1,489.64
today spot level for nifty can be 2810,2799,2778,2721,2694
watch out for the levels and trade......
HAPPY TRADING.........!!!
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