SENSEX below 3 year low…

The SENSEX is below 3 year low, where as the inflation was at 2002
levels.

The regular readers might have understood the supports and resistance levels and how they works. The Nifty is still a out-performer when it compared with the rest but the outflow of money due to the global giant financial institutions crumbling performance cast a shadow on our banking sector and on markets.

In my earlier post it was mentioned the Reliance levels and the ONGC today the RIL high at 1220 and low at 1142 level and the ONGC took support at 637 . The Nifty took support at 2564 but it did not tried to cross the 2680 at time.

Now the markets are under severe selling pressure that to delivery based selling by institutions forcing the markets down. The Asian markets are ok and the yesterday cue from Europe and US also good but we did not follow them just because now a days we are a head of them…leading them.