INDIAN MARKETS

Analyzing the previous falls in the Sensex and Nifty Fut. We see that the first major fall in case of Sensex was 32% from h-1 and in case of Nifty fut. was almost 38%from H-1
(BLACK FRIDAY).The second fall in case of Sensex was 31% from H-2 and in case of Nifty fut. was also 31%from H-2.

In such case the support for the Sensex should be considered between 14208 which come to 33% from the all time high (21206) or 13780 which is the low (low of 17th Aug 2007) and can form a minor double bottom too and in case of Nifty Fut. 4245 which come to 33% from the all time high of 6336 or the support of the previous high S-3 which is 4239.

US MARKETS

The major us indices the Dow Jones Industrial the NASDAQ Composite and the S&P 500 are at crucial support levels. Any future weakness in the US Markets can trigger sell off in major Asian markets which can bad for the Indian Markets too.