Nifty Future - 01-8-2007

Sensex saw its second biggest fall in a single day.As usual we followed the global markets.We started our day with a Big bang on downside.

In chart attached, the downtrend is clear, but the volatile put traders and investors in dilema.Already the price is below 50 EMA.For tomorrow if market falls below 4218 - 4220,we can see another blood bath. Until clear indications of Price Bottomed out or Trend reversal fresh long positions should be avoided.