Rest is red except China!

The markets are now in correcting mode as the valuations are compelling to investors to book profits. This opportunity is more than enough bears to put their pressure on bull to take a back seat for today and days to come. The Nifty face pressure when it trades below 4611-13 may find support at 4571-73 levels, next at 4551-50 levels. Those who have taken del. in Idea and Satyam, as posted touched 135 and 525 levels can be booked profits.
The RIL get selling pressure below 1915 and good above 1928-26, ONGC weak below 916 and good above 926, SBI good above 1598-96, ICICI good above 883. The Infy weak below 1963, RCOM weak below 571, Bharti good above 839. IDBI good above 112 and IDFC good above 126, Rel cap good above 1198-1203 stop-loss 1185-83. DLF weak below 657, stoploss at 671.