ADRs in “Red”, Spreads to Indices!

No surprise as the rally cannot be sustained on a weak foundation so the world is taking the profits and the cause is a known factor-SUB-PRIME.
The Nifty likely to open below 4285 and can get support at 4245-48 at first level and may get strong support at 4221-18 level. The RIL has support at1846-48 level, SBI at 1493-98 level, ICICI at 841-43, the best at 822-23 level. The Tata steel has support at 581-83 and the good support at 566-63, RCOM likely to trade below 500.

The overall market will be in red and the right opportunity to buy may emerge tomorrow once the profit booking being absorbed.