MORNING UPDATE-27 JUNE

MARKET OUTLOOK
A barrage of bad news including yet another record high for oil drove stocks sharply lower Thursday, hurtling the Dow Jones industrials down nearly 360 points to their lowest level in almost two years. Asian markets have opened two percent down. How do we trade our markets today? Watch for 4135. If Nifty future trades below this go short for tgt of 4006. If NF can cross this level and sustain for some time only then consider going long.