This week too, the markets showed weakness on global cues and falling oil prices. Tracking the global weakness, on the domestic front, huge selling was seen, especially in the mid-cap and small-cap sectors. Most heavyweight counters were tumbling to their new 52-week lows. Nifty has resistance at 7650 and 7900 and the support is 7371, 7158, 7000 and more in the days to come.

Capital goods, banking, cement, oil and gas producers and metal sectors are under the threat of bears. Meanwhile, the US and Euro zone’s markets were also looking weak and chances of further sell-off are expected in the near term.