Pre-open Outlook(03-02-2016)
Crashing like situation in all the Global markets in following manner today morning:-
1- All the Asian markets are trading 1% to 3.1% down.
2- Dow Jones closed 1.8% down yesterday
3- All the European markets closed 1.8% to 3.0% down yesterday.
As sentiment is completely depressed today morning therefore gap down opening below next supports(7420-7447) will be seen in Indian market also. Next supports below it are between 7242-7320 and once sustaining below 7420 will mean testing of next supports.
We posted following topic on 01-02-2016 and just keep in mind today also:-
Fresh Long Positions after Today started Correction Completion Confirmations
Correction started on 01-02-2015 and same day we clearly told through above topic that fresh buying should be done after correction completion confirmations.