Sensex below 17,000

Indian market witnessed selling pressure for the third continuous day. The never ending profit booking is the main reason behind the downfall of indices. The seel off story from European indices also weighed the sentimence. Sensex now trading below it's psychological level of 17K. Nifty left behind 5000 level and now trading at 4900 level. Selling activity turned towards midcap stocks. When the markets heading towards closing there will be some buying interest.
There are more and more positive news like good Q2 numbers. But the impatient traders are avoiding all of them. The projected growth rate of 6.75 is another reason to invest in stocks. I think the panic selling will continue till tomorrow afternoon. Tomorrow expectation of closing flat or well above. Next week there will be buying interest from the part of traders. Selling pressure witnessed in the recent star sectors was also another factor leading the market to loss

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http://www.moneycontrol.com/news/local-markets/nifty-breaks-5kweak-european-cues-dlf-lt-dip-4_420319.html