Todays Market Views

Finally Dow managed to close 7500 loosing 250 points. As I earlier mentioned its more of event driven market for some time. Negative news of G.M added to this downward rally. Back to our Nifty it can follow suit and can give a gap down opening of around 30-40 points. On hourly chart last candle was doji so cant say where we can move from here. For some times 2950 may hold and if it breaks can trail to sub 2900 lvls.
Keeping all fingers crossed it will be interesting to watch the battle between bulls and bears.
For some time its best to book profit on rallies till FIIs turn net buyer.