The US Federal Reserve seeing risk to the US economy in the coming period didn't augur well for the equity markets around the world, including Bombay Stock Exchange benchmark Sensex. Sensex, Nifty registered biggest single-day point fall since July 2009. The 30-share index suffered the biggest plunge in over 26 months, nose-diving 704 points on heavy sell-offs. The markets plunged over 4% amid sell-off in global equities after the Federal Reserve steered away from announcing Quantitative Easing Three. 
This adjacent image aptly describes the state of pessimism in the market. Federal Reserve's downbeat outlook for US economy pulled down all the global markets.The market undercurrent has turned extremely weak, and hence weak global markets could lead to significant fall around 4,759 as daily trend has turned weak. However a technical bounce back is not ruled out due to short covering and thus ideal is to make money by trading in stock of the day and let the trend make money for you in intraday trading. On Wednesday, the Federal Reserve launched a new package of measure to support the limping economy which was dubbed as 'Operation Twist', where the Fed would buy long term bonds and sell short term bonds worth $400 billion. However, market participants did not cheer the Fed's latest efforts. Moreover Fed's statement that the economy faced "significant downside risks" renewed fears of a double dip recession.The central bank made it clear that it thinks a full economic recovery is "years away". Global markets fell more than 3 per cent in Taiwan, Russia and Poland. The European indices, led by London' FTSE plunged 4.55 per cent, followed by Paris - 4.65 per cent - in early trade.
Now all eyes are on the Eurozone and if outcome is not proper we may see high risks to European banks holding euro-assets, which could lead to a domino effect in other countries as well. The Indian market breadth was extremely negative, 2,235 stocks declined for only 606 stocks which advanced on the BSE.
Back home, the rupee fell to fresh 2-year low against the US dollar to Rs 49.20 in intra-day trade - weakest since July 13, 2009. Thus we may see FIIs buying as Nifty has broken its support level of 5000 and rupee has depreciated to 49/$ and it is ideal opportunity for FIIs to get value for their money.
Effect of Global Commodity market on Indian Stock Market
If we analyse the global commodity perspective i.e. alpha global energy and metals than we will observe that metals look weak and even oil seems to have further downside left. The weakness on the commodity complex should also have a negative drag on BSE Metals and BSE OIL & Gas sectors.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 4850-4750 | 5000-5265-5330 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | Jackpot Tip was not initiated due to gap down opening. However bonus sell call yielded a profit of Rs 1430 for Rs 50,000 trading. |
Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 12540 |
Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 33640 |
Strong future shares at National stock exchange
Arvind, Bombay Dyeing, Gitanjali, VIP Ind, NCC, Finan Tech, Havells, Tulip, Titan & Ruchi Soya.
Weak future stocks at NSE
Pantaloon, SRE Infra, IVRCL Infra, MC Dowell, Opto Circuit, Moser Baer, Fortis, Mphasis, IFCI & LT.
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