>Market Preview (MARWADI FINANCIAL)

MARKET PREVIEW

* The sellers are on rampage and equities are testing multi year lows. The surge in VIX indicates more sell-off to come and Indian markets are also looking very weak as economy has also become vulnerable in the wake of global slow down and huge FII outflows. The sharp contractions (16%) in export and rupee at 52 are worrisome. However there was some respite in the reported healthy auto sales numbers for the month of February.

* We advice to postpone buying and to buy out of money index put option for any eventuality of new lows in the month of March series. Crucial level on the Nifty would be 2700 on the upper side.

To see full report: Market Preview 03-03-2009