A morning walk down Dalal Street | Panic low of 10,535 likely to act as crucial support

Bulls made a roaring comeback. There was a sharp recovery across sectors, particularly in the broader markets, helped the indices end higher. The Nifty clocked 10,700 again and ended above that mark.

The day began on a bearish note, with indices giving up key levels. Further weaknesss happened through the day, with the Sensex plunging 400 points. However, bulls staged a tough comeback to end the session on a high. 

Crude and rupee’s trajectory will be crucial for the market, going ahead. While there has been some impact on Indian indices, crude’s fall has been arresting the fall.