Crude falls below 100…..

The crude oil the biggest trouble shooter in the fist and second quarter up to July touched a high close to 150 dollar a barrel now fell below 100 dollar due to the global economy slow down. The Indian infrastructure growth declined to 4.3 % compared to 7.2% last year but a consoling factor is it inched up when compared to last month at 3.4%. The Rupee breached the 45 mark against dollar, a nearly two year low.
The Indian markets though flooded with good news but were down due to global cues. The Nifty was down by 68 points today but still in positive territory when compared to last Friday closing by 48 points. So we are still outperforming the major Asian markets on net basis.
The MARKET pulse check by STOCKOMETER:
The markets behaved in line with the morning suggested levels but failed to understand the Banking sector strength which proved that I am wrong.
(….There was no such deviation from the earlier levels but the gravity favouring the bears. So the banking lot is most favoured sector to sell. ICICI bank may again see 680 levels, even less. The SBI has support at 1496-93 level, Relcap has support at 1286 level and the best could be at 1269-71 level. The other stock has earlier levels suggested are valid for this day.
The ICICI bank made a high at 704 and low at 686.35. The SBI touched high at 1583.70 and low at 1535, The Relcap made a high at 1355 and low touched at 1315.0
The traders might have observed how ONGC fell below 1093 to touch a low of 1053.15, DLF failed to cross 515 level and took support at 496.0, the JP failed to cross 176. All these levels were earlier discussed.

The STOCK-TRADING is a “Skill-FULL Job”. NEVER blame others for the LOSS/DEALS.
Never Forget: I may be wrong, You may be wrong but markets always RIGHT.