Worse has hit us!!!

Outlook : Negative

The upmoves are coming when least expected and downmoves are strong and severe wiping off the gains made in no time. . .and it does not look good. I had in my post yesterday that charts are pointing that some indicators are positive yet I would not advocate F&O position as the downmoves are very swift. . .now the realty has hit us. . . all this while the rally was looking very very unconvincing, and now all that has ended. . . the sharp downmove today is a precursor for worse things to come. . . I wont be surprised if we break the all time lows set in October. Now I would basically look at 2550 on the NIFTY and 8000-8500 on the sensex. . .if that breaks then NIFTY can be headed much much lower. . . I am also stuck with some cash positions but its not too much of a worry as these are cash positions so one can hold on. . . this was the precise reason why I was not venturing into going long on the futures ( though I covered my shorts a bit too early :( )

Well lets hope for the best, but very frankly there is nothing to look forward to . . . hmmm except gold obviously :) ( Do read up my article on gold, i wrote on Jan 31. )