While we slept this weekend, the rest of the world fell apart. Friday night Wall Street cracked: the Nasdaq dropped 4.18 percent, the S&P 500 fell 2.64 percent. This morning Asia joined the selling, Japan down 4.17 percent, Korea down 6.15 percent, Taiwan down 5.08 percent, with Hong Kong, Jakarta and Shanghai all red. And crude oil jumped more than 3 percent, Brent back to 96 dollars. India did nothing wrong on Friday. We open sharply lower today on an imported sell-off, not a homemade one.

Friday's RBI-decision-day calls landed three out of five — the full scorecard and every level is on the website. The bank held at 5.25 percent and the Nifty closed down 49 points at 23366. Now the weekend has changed the question. Our overnight GIFT print at 23137 points to a gap down of roughly 230 points, dropping us straight onto the 23000 put wa ...