Market crashes 1624 points - CapitalVia

Sensex ends at 25,742 level, down 6%; biggest fall in 7 years, In a stock market bloodbath, benchmark Sensex on Monday sunk 1,624.51 points to end the day at 25,741.56 the biggest in over seven years amid a global rout.

Views of Mr. Rohit Gadia, Founder & CEO, CapitalVia Global Research Ltd.

Global market saw a major correction followed by further correction for Asian markets what we have seen Friday & today. In Indian market majorly because FII's ( Foreign institutional investors ) are continuously withdrawing funds from market , uncertainty in Eurozone & rupee depreciation. Also because the local professionals, high net worth worth individuals & propriety trading desk in local market are perhaps sitting in long position will come out in hurry to get out of their long position because of large mark to market. Which indicated that there is a change in trend but if it is a change in trend there would be some dead cat bounce also.

So overall market is looking weak & levels of 7700-7400 are possible in coming days. Coming two - three days would be bit challenging so Don't hurry for fresh buying or short selling till the dust settles & clarity emerges.

Source : Equity Bulls

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