There are a lot of things happening but top of mind is what is happening with Russia-Ukraine conflict. Unless there is a big catastrophic kind of an event now - as was feared with the fire at the nuclear power plant, which is not as serious as what the headlines first indicated -a lot of things perhaps are in the price.

According to reports, the nuclear security of plant is secured currently.

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Oil has cooled off but has the uptrend been completely broken? One needs to wait and watch. Oil has cooled off on hopes and expectations on reports that Iran nuclear deal is absolutely imminent.

Also, the US jobs report, which comes out later today is of extreme importance for what the Fed does. Market is pricing in what the Fed will do in March.

Watch the accompanying video of CNBC-TV18's Prashant Nair for more details.

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