==>> Nifty closes 3000 levels, while Sensex closed at 9568

Indices opened in the negative zone. US markets closed down nearly 2.5-3% down. Asian markets were also trading in the negative zone. On Friday Nifty closed below the resistance level and the trendline. As mentioned in my last blog also, that the chart shows some profit booking. Nifty closed below at 2984, after making a low of 2962. Support is seen at 2950-2890 levels. Heavy weights were the major culprit in bringing the markets down by nearly 4.5%. Major Banking and the Metal stocks was huge profit booking, they were down by 4-10%. ICICI bank lost nearly 11%, SBI 7%. RIL was down nearly 3%, but it took good support at 1500 levels and bounced back to 1530 levels. I had give a buy call on RIL @ 1507 with a SL of 1494. Dow futures were trading in the red. Dow and the Nasdaq futures were down nerly 2.5%. Indian Indices lost ground in the late session. Nifty below 3000 levels at 2984, while sensex closed at 9568 down by 480 points. In my last blog i have written that the RIL chart shows some correction, and it can come down till 1510 levels. Today Reliance ind made a low of1495 and closed at1533 levels.