A Sell off expected in Indian markets.
PSU banks to fall the most followed by some financial stocks, real estate stocks, capital goods and engineering stocks.
However buying will also be seen in many sector and stocks.
Many sectors and stocks will witness bottom fishing and buy on dips will prevail.
Nifty will target 7770 first. As we said the fear of big correction in USA Dow index is giving panics to markets and bears are using the resistance of 8000 to do sell off despite good economic numbers and other indicators from across the world like Germany, India, and USA itself.
Brexit is not a very very major issue for world economy. It is important in the sense of the political make over of the European Union and within UK but any devastating effects on global financial markets and world economy as such is far sighted.
We continue to remain bullish on markets.
Many stocks are weak and will go down 30% from present levels which we gave earlier also like PSU banks and so on.
A lot depend on nifty crossing 8000 mark, that will start a definitive bull market in Indian equities which will be a very good market second to the phase we saw in 2003 to 2008 bull trend.
However traders have to maneuver their trades as week to week market trends and for that they require expert professional analyst help.
join with our analyst on www.meghainvestments.com
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