The markets had topped out for the short to medium term when the Sensex hit 40312 in early June.
Now with Friday's crash, the markets have entered the decisive and lethal phase of the downtrend.
Our short term target for the indices stands at 37064 (11040) with brief periods of rally's and pullbacks inter-spaced in between.
Traders can short the markets at the current levels and on any rise till 38556 (11484) for a target of 37886 (11285) in this week.
|Index Levels to Watch & Fair Value|