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Calls for caution

Markets likely to bounce, hence avoid trading on the short side

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The markets opened on a positive note on the first day of the previous week. But, they soon lost ground on every subsequent day and the BSESENSEX closed with a loss of 538.10 points or 3.20 per cent. The NSENIFTY lost 157.95 points or 3.11 per cent. The broader markets saw the BSE500, BSE200 and BSE100 lose 3.02 per cent, 3.06 per cent and 3.18 per cent respectively. The BSEMIDCAP and BSESMALLCAP lost a little less than the broader indices with losses of 2.49 per cent and 2.93 per cent.

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