Its PANIC TIME !

There is a serious crisis of confidence. The world's banks are no more lending to each other and every body wants to sit on liquidity. The US treasury three month bill were yielding 0.02% , their lowest yield since World War II, indicating the investor anxiety to buy safety at any cost. The rise in Gold also indicates that. All the world's bourses are at multi-year lows.

As this is a situation that no one amongst the working world citizens have seen, we should not treat this as another correction , that will pass. Brace for a sharp morning fall as the July 15 levels, 3790 in the Nifty and 12514 in the Sensex, come up for close inspection in the opening trade. The weakness in non-precious metals, construction, brokerages, real estate should continue and cement , engineering and banks will join the slide. We are moving to new lower levels today. Don't catch the falling knife, unless if you are donning the Option gloves.