US Markets (DOW and NASDAQ) Today : April 09,2008

US Markets ended lower today with anticipation of bad first quarter earnings season after delivery gaint UPS lowered the profit expectations. DOW down by nearly 0.4% so as NASDAQ by 1%.

Triggers:
1. expected low first quarter earnings season supported by UPS comments.
2. All time high of crude prices which settled at $110.87 per barrel
3. Dollar fall vs YEN and EURO

Impact on India : Indian Markets might be under pressure today with rest of the asia. Financial,IT sectors can see selling pressure as a result of what seen in US. If Indian markets can hold the gains of yesterday, then there is a chance of NIFTY moving to 4900 levels this month. Also there are high chances of volatality owing to the earnings season and weak global markets with downside seen at 4600 levels