Pri Market Commentary ...

Today,We are in for a gap down opening.Global markets have fallen sharply as crude hovered around $139-140 levels. This is likely to trigger a major sell-off in Indian equities today.We have been advising not to get sucked into any rally since recent ones have been mainly on account of short covering, poor breadth and no fresh buying was seen. With over 11% inflation expected to be reported, weakness is expected throughout the day and a 3-5% fall in major indices will not be surprising.