Sensex Rangebound

After firming up in early afternoon trade, markets seems to be again on a downward spiral. At 1:14 PM, the Nifty is at 3806.55 which is around 5 basis points less then yesterdays closing. During mid afternoon trade the markets had firmed up to 3841 but have again spirelled down.

We think that there might be another sell off in the afternoon taking the Nifty to even lower levels.