The Indian markets were down and out in the first half of the session but a ray of hope from Europe helped improve sentiment. Reports indicate that the European Financial Stability Facility or EFSF, will be allowed to buy bonds in the secondary markets.
The EFSF draft guidelines helped the Nifty bounce off its early lows but the index still closed with a 50 point cut.
The Sensex too recovered from the day's lows to close with a 150 point cut.
Trading tips
Nifty oct 2011 fut buy at 5094.75 tgt 5109/5127/5145/5164 SL 5075.70
