FCPO Daily: Facing resistance at 2397

Market drop sharply violated the 2300 physiological support level after facing tough resistance at 2397.Market looks bearish and may move lower in near term. As for now, we are looking for the upside resistance at 2397-2424 (gap left over n 17/8/2009). Downside support is pegged at 2275-2250 followed by 2225-2200.