Stock markets around the globe are reeling under pressure from the overnight debt problems egressing from the Dubai world. Dubai accumulated $80 Billion of debt by expanding in Banking, Real estate and Transportation and has asked for a 6 month moratorium on those obligations. Stock markets in the Asia region are drifting lower in a low trading session on Friday.Dubai threat resulted in bloodbathing of nifty which swung more than 300 points during the day from 5000 to 4800 odd & then 4800 to 4950+,closed at 4940.Still it has to cross & close abv 5050 mark for further upmove.
Downside 4747,4680 r key support area.
HAPPY TRADING IN THE COMING WEEK.
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