Oil sets record and Stocks stumble in Wallstreet

Oil reached 108$ per barrel in today's trade to set all time new record high.

Fears of recession gloomed over DOW and NASDAQ causing them to close on Monday with 1.95% and 1.29% respectively.

These global queues are not good for Asian market's including India when they wake up tmrw , which recovered yesterday from day's lows. We can expect a gap down opening of NIFTY and it may slide down to 4600 and 4550 levels.