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7 Aug 2008

How Indian bluechip stocks are going to be affected by crude prices?

1. It is certain that market will consolidate for some period and regular bouts of profit taking will be seen in market. Strength in market will be oil driven and for that crude has to stay below $120 level. If oil stays below $120 than it can target the levels of $ 110 where it is likely to reach its lowest ebb and if oil increases beyond $120 per barrel than oil can touch $130 per barrel and in that scenario pull back rally at BSE and NSE ends.


2. Thus one has to keep an eye on crude as all these blue chips which we are discussing on this blog are prone to be effected by its movement.

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