Recently, Finance Minister P Chidambaram suggested that investors should avoid looking at the market indices every day. The markets have been seeing a lot of volatility these days. It seems he has forgotten that the Sensex and the Nifty do decide the actions of a person who has invested his hard earned money or may have borrowed money to play in the markets.

And there are crores of people who have done so. He also has forgotten that the Sensex and the Nifty represent the Indian corporates when it comes to businesses and diversification of businesses.

Stocks that have fallen by more than 70 per cent of whatever they traded at 10 months ago is not on mere speculation or FII selling.

It is also due to somebody inside having the knowledge of bad investments and losses that these corporates have in their books and that which the common investor does not know.

At this stage, the finance minister should suggest the regulators to keep a check on corporates or lay down rules of investments for them. Because finally it is the common investors’ money that is at stake.

Technically, the Sensex has support at 8871 and Nifty at 2664 levels. The markets will continue to swing up and down for the next few weeks.

On the higher side, resistance exists at 9169 and 2802 for the Sensex and the Nifty respectively. On Wednesday, the markets should be able to get a breather from the continuous fall which it has witnessed for the last few days. Investors should not consider breathers as buying opportunities as stocks still are not showing strong signals to enter positions.