Nifty in downtrend, but don't see major fall now: Experts

Moneycontrol Bureau:

The Indian markets were down and out in the first half of the session. But a ray of hope from Europe helped improve sentiment. Reports indicate that the European Financial Stability Facility (EFSF) will be allowed to buy bonds in the secondary markets.

The EFSF draft guidelines helped the Nifty bounce off its early lows. But the index still closed with a 50-point cut. The Sensex too recovered from the day's lows to close with a 150-point cut.

The Sensex closed at 16,936.89. The Nifty ended at 5,091.90.

Although experts feel that the Nifty is in a downtrend, but they don