7th Jan.2009 - Satyam Collapse far reaching effect

Warning: The way market has reacted today after the satyam news has made the technicals that were pointing to take the market above 11870 by 5th Feb.2009 has made them two edged i.e. by or before 5th Feb.2009 the market can even break the Oct.2008 lows of 7697. Now the key is what the International Markets do specifically S&P 500. If it does the same in one or two days i.e. fall by 5 to 6% in a day then a new decline has started.