After a brief relief rally seen in the markets for the last few days, yesterday a profit booking session started and the markets closed the day in red. Sensex lost 165 points to close at 14,777 levels. Nifty too lost 43 points to close at 4,434 levels. The markets opened the day gap up as reported here yesterday,but due to profit booking it lost the initial gains.

The next crucial levels to watch in the nifty would be 4,350. If this level is breached, it can go down to 4150 levels in the near future. Mean while RIL Q1 2009 results came came out yesterday,which were looking good along with the stabilized inflation figures which now stands at 11.89%.

The US markets had crashed yesterday when sales of existing homes in US fell. The Dow and Nasdaq lost about 2.43% and 1.97% respectively. And reacting to this the Asian markets have opened in deep red with Nikkei-225 down by 1.54% and Hang Seng down by 1.45%. The Indian markets will also open gap down today, so the traders are advised to be cautious while trading in specific counters.

Some intra day trading tips for today include: Engineers India Ltd(cmp 602),Selan(cmp 264),Phoenix Mills(cmp 158), UB Holdings(cmp 320),RNRL(cmp 99),STC India(cmp 332), SCI(cmp 230), Mundra Port(cmp 583),Reliance Industries Infra(cmp 878),Everonn(cmp 499),Jai Corp(cmp 403),ZEE(cmp 220),

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