Nifty was down by 97 points at 10671 and the sensex was down by 272 points at 35217. A lot of selling by Foreign Institutions is going on. Markets, are in a trading range or range bound. It seems good for traders who want to pocket the difference. One has to keep away from the market for now. As a matter of caution Investors are buying large cap stocks which are defensive in nature. Mid caps are avoided due to the risks involved in prices of these stocks. Large Institutions keep selling in bulk, so markets will be down.