The Wall crumbles….

The Wallstreet crumbled last night and fell on the Asian markets, cracking by more than 2.5%. The Indian markets are about to face the threat, the strength will be gained fast if it holds above the immediate support level at 4343-41 level. The Hang Seng is struggling to hold the bottoms as it is continuously bleeding, today lost by 555 points and the Nikkei is beaten down with its economic and political troubles lost 320 points.

The ADRs slumped by 5% in banking stocks and the techs lost by more than 2%.
The troubled times exhibits opportunities to the institutional investors to come forward and buy the blue chips. The underperformer has to get the bottom support and investors shall come forward to buy at the so called higher levels rather than resorting for profit booking/shorting with pessimistic view. In this category the reality sector, especially DLF has to trade above 520 and cross the 570-75 resistance, then the markets see a sustained buying. The Infy may manage to float above the support at 1640 level and may shuttle between 1770-1640 range till the second quarter results. In case Infy close & trades below the 1690 level and the Satyam trades below 409-06 support level could become the first signs of cracking in the IT stocks.
The technical bottom supports may not come to rescue when the floods of supply is offered. But the broad range can give some idea of the movements.
The RIL is good at 2100-2097 level, the next support at 2081-79 level.
The ONGC may get support at 1023-20 level.
The Infy may get support at 1706-08 level will become weak below 1690 level.
The DLF is in the yesterday levels.
The Tata Steel may fine some new bottom at 560 level or even below.
The RCOM once again get support at 379-81 level, but likely to see a new bottom.
The SBI has support at 1467-71 level and next support at 1446-45 level.
The ICICI bank may get first support at 678-81 level and may find buyers at 661-59 level.
The Relcap may get support at 1305-03 level and the best could be at 1281-83 level.

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.