Ghastly but cowardly act….

The cowards of the human society envious of the progress of Indians, made an assault on the innocent human beings. They killed more than 150 and injured more than 380 in Mumbai. The poor victims paid their lives as penalty for this malicious act of the terrorists. The inhuman acts of these terrorists have to be condemned by one and all with out barriers. The heads of the state and the global leaders shall act firmly to bulldoze these un-lawful organizations without any consideration.
The history suggests that the markets are resilient to these kinds of terrors to dampen the economic investments in India. This time the severity will put the investors to think twice before drawing the final line. The markets made a decent bottom building process in the previous trading sessions but can be challenged due to this ghastly act. The DIIs and the MFs will rescue the free fall in case selling pressure in accentuated.
The markets across the globe advanced and our markets may face the selling pressure in the morning but can pull back to 2800 level for the Nov. expiry closing, as it was postponed to tomorrow.
The Nifty has good support at 2693 level and at 2663-61 level. In case RIL trades below 1095 and SBI trades below 1085 level and ONGC trades below 665 then the markets are weak. The RIL above 1122 and SBI above 1140 levels and ONGC above 695 levels can channel an up move. As the last day of expiry the volatility could be high.
The concern over inflation is no longer keeping the policy makers to tighten the liquidity may announce at least 50 bps of CRR and Repo cut to keeps the Bears away to take advantage of the crisis situation happened in our financial capital of India.