MARKETS TO NEW LOWS ????

As expected markets were drifted downward. Nifty sheds 200+ i.e., more than the previous day's rise. It clearly shows that the swing reversal from 2860 nifty was weeded out before reaching the previous peak of nifty 3240.  This means that the retracement of 1000 points relief rally continues now & nifty may come down continuously 2860-2750-2630.  Later if nothing is developed the fall may continues and creates new low in this drifting itself.  Let us see what happens.  FII data and Nifty open interest shows no change to bullishness. One can have shorts and even can add after market breaks 2860-2800 by buying 2500 puts. 

Sensex chart clearly shows the continuation of fall. Reliance is also on the clear down side which is the driving force of the markets.