Firstly US markets corrected sharply after Egypt internal unrest and after that all Asian markets are also steep down today morning. As other markets were overbought therefore their correction was natural but Indian markets are oversold and will react this news in another manner. Gravity of Egyption problem and repercussion on global economy is not known yet and all the global markets are reacting with sharp declines since its eruption.
SGX Nifty is also trading more than 90 points down since morning today. Indian markets long term trend is at stake. Sentiment completely depressed today morning and sustaining beyond 5460(spot) will decide fate of long term trend.
Let Indian markets react global crash today then will be decided according to intraday charts patterns.