Its look like a black friday in whole world as per economy point of view. Yesterday Europe markets were closed 3% down.
In Dubai, State-backed networks named as Dubai Inc. is in debt of $80 billion and can not pay for atleast 6 month. Due to its impact, the compnies which have exposure to Dubai are in danger now. As soon as this news spread, it looks like 2nd crisis has been started in world. Hongkong market is down by 700 points. Indian market opens 400 point down which never been in 2009. Now analysist seems this as a corretion and predict to correct up to 14500 level. Right now Sensex is treading at 16318 down 537 points (3.2%) and Nifty is at 4839 down 166 points (3.33%)
Scary thing is that nifty is not taking any support at all. All the major supports are broken very easily and for bulls, it has so many strong resistance.
It may be ended 600 down today. And may be 300-400 down on Monday. If Indian Government wants to save investor's money, they have to take some encouraging steps
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