European markets dropped after the little hope to fix the debit crises on Monday. Indian markets were consolidating amid the news but U.S. markets sank sharply after opening. Banks stocks are the big decliners in European markets. China showed Gross Domestic Product data 9.1% in third quarter, lower from expectations. Dow has fallen around 2% last night. Asian markets trading lower now. SGX Nifty wiped off 42 points and trading around 5080 levels. 5100 and 5200 strike rate’s call added more shorts in Nifty options on Monday, Which marks Nifty may remain weak for few days. Nifty has crucial support on 5050; decline below this level Nifty may cut off more 100 points. Nifty can be short sell below 5050 levels with strict stop-loss.
