Pri Market Commentary ...

Today,we expect a nervous start. Some pull back is not ruled out after yesterday’s 600pts cut in the benchmark Sensex. As seen in the recent past, a descend is followed by an equally swift recovery. But, we continue to advocate caution. We could see some stability only if there is softening in crude oil prices.

Staying on the sidelines is probably the best option right now, with no clear visibility on the market's direction. Buying activity will be stock specific.