The falling crude props….

The falling crude prices and like-hood of further correction is helping the emerging markets to save some money at this account. The emerging markets leader, India has great future it could save energy and generate at a better bargaining price can compete with the developed nations.
The sudden fall of crude from the 125-126 level to below 120 levels is a positive sign that propelled our markets even though the opening was flat to negative on the negative cues from US.

The MARKET pulse check by STOCKOMETER:
The NIFTY has first support at 4358-61 level, the low was at 4376, and continuously inching up day after day is a clear bullish signal.

In the morning my view on Nifty was proved wrong beyond doubt and markets added 100 points to it tally. The up move in the steel sector may take a pause and took some pause but the banking may correct a bit more as the weakness in ICICI & Kotak took the lead, I failed to understand bank stocks as my view was negative.

The previous write ups discussed in...The action for big action…..……………..The Bearish out look will remain at least for two quarters for sure. The crude has to trade below 120 dollars and the resultant ease of inflation will give positive signals to RBI to relax the money tightening policies. The cumulative effect can be seen in the indices with confidence in the investor community, then the Nifty will trade above 4500 level and the foreign money will chase our stocks.
No problem correction…?…..24-07-08…The crude has cooled very rapidly and even broke the $120/- support. The Global markets rallied in celebration particularly the Asian pack. The Nifty has made a decent bottom support at 4050 level and temporarily not likely to go below 4240 the first support.