Blame us or US….

The crisis unfolding on many fronts in US, this times the “Job Data”. Now the crisis of crude hanging at $75-76 could shoot out beyond $85 per barrel. The decoupling with international market all the time is not possible but this fall is expected even there were good global cues.
As posted on Friday, the Nifty started its downward move once the big boy RIL closed at 1963. The Nifty could test 4331-35 ranges in this week as the threats due to the 11th September challenge to US and the fears emerge due to the terrorist warnings. Don’t get panic even if the Nifty touches 4280 level or even 4228-26 range in pressure. The best buying opportunities emerge at such levels.

The Nifty could get support at 4222-26 level as the first primary support. The RIL gets support at 1936-35 level. SBI gets support at 1563-59 level and RCOM get support at 520 level and at 506-08. The Tata Steel has support at 661-59 level and Sail support at 158-59 level.

The fall is a threat to traders and an opportunity to investors. So this time don’t forget take delivery of IDBI at 118-119 level, Ranbaxy at 376-72, ITC at 163-61, HUL at 203-199 and NTPC at 163-61 level. The long term players can take this fall to invest in Wipro, Sterlite, DLF, Jet, Tata Motors, M&M, Idea, Bharti and RCOM- could give decent returns for those whose doesn't churn very time.