Market Outlook for the day 16th September.

US markets fell yesterday like hell. Dow is down over 500 points and NASDAQ 3.5% odd.
Nikkkei is down over 545 points.
Indian markets had started improving before that the global sentiments got spoilt due to Lehman Bros the 158 years old US major. The stock was in talk with the Korean bank for a tie up but the plan failed so the stock had an intra day fall of 45% last week from odd 9$ to 4.8% . A day later the stock fell almost 32% odd. at 3.2$. And yesterday it filed a bankruptcy case and the stock almost fell 95% and is now trading in cents some 21 cents.
US government announced to nationalised these two mortgage majors Fannie Mae and Freddie Mac which control over 50% of the US loan mortgage.
So I think we may test new lows until the conditions improve.
We may see heavy selling by Lehman Bros INC's in India.
Avoid shorting at any points.
Use the technique of buying in dips and selling in rallies.
Buy blue chips stocks if you get them cheap.

Markets may open in deep red.
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