After yesterday's modest gain, Market is in deep red again. Nifty breached 4900 mark. Once again it is the Europe worry. With IMF expressing their concern on Spanish economic situation yesterday, this was kind of expected. The situation worsened by the rising tensions in Korea.
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Only 5 shares in Nifty are in green; and Suzlon is one of them! That is surprising, I would say; Even considering the fact it had been badly battered over the last few days (who was not?).
All Reliance shares like RIL, Reliance Communications, Reliance Power, Reliance Infra, which gained close to 10% yesterday driven by Ambani brothers patch up news, are in deep red again today.
All sectors and almost all shares have been battered. Only pharma is looking marginally better with Sun Pharma, Ranbaxy in green.
But the market is currently a no go zone for the investors. Just hold on to your cash and sit through this fall till the market settles down somewhere at a much lower level. And have a close watch on eurozone news and on global market indicies.
May be traders can make some quick money in this market from short positions; but clearly this is a wait and watch for investors.
