Market Update: Jan 21st 2008

9:30am – US market continue to show the weakness and it fell down 0.5% on last friday, today asian markets opens with Nikkei 3.5% and Hang Seng/Sanghai down 2.5%. India will be falling in line with since investor confidence already down due to free fall in the last week.

HBJ Capital, expects Indian market to fall lesser extent maybe close to 1-1.5%. This can be treated as buying opportunity in small caps, Nifty has already fallen close to 8% last week and in near future it can fall further 5-8% at most. Do not keep the long position and for short sellers pls keep booking the profits occassionally.

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