The markets opened on a shaky note and proceeded to slip yet again after the much awaited IPO listing turned out to be below expectations. The traded volumes spiked higher, which is a negative development for the short term players.The market breadth was negative as the combined exchange advance decline ratio was 306 : 3589. The capitalisation of the breadth was also negative as the commensurate figures were Rs 4144 crore : Rs 23132 crore.The indices have closed at the lower end of the intra-day range and the levels advocated for Monday at the 5,030 / 5,210 levels was violated on the downside as the selling pressure was significant.That the traded volumes ballooned higher and the market internals remained weak, speaks of the brittle sentiment prevailing in the markets.The coming session is likely to witness a range of 5,050 on advances and 4,660 on declines. The traded volumes will determine the direction of the markets (as they did on Monday).Any move on higher volumes is likely to be the dominant one and the current outlook seems biased in favour of the bears. The outlook for the markets on Tuesday remains that of abundant caution and as long as the Nifty spot remains below the 4,930 levels, expect the bears to remain in command during the session.
