US Markets today : May 07,2008

source : CNBC TV18

1.Continuing super spike in oil prices fuel inflation worries

2.Dow tumbles 206 pts, S&P 500 drops 27 and NASDAQ falls 44pts

3.Financials lead the decline

4.Microsoft bankers make new overtures to Face book

5.So far, Face book has been adamant about remaining independent.

Strategies for India

1. Nifty support can be seen at 5050 and one can short the market at the current levels. Upside seen at 5175

2. Sell futures in SATYAM at 500 levels for a stop loss of 510 . Book profits at 460 levels

IPL Standings after 2 weeks

After 2 weeks of IPL start, here are how the teams are lined up.

Most disappointing performance by Deccan Chargers so far and are in deep trouble at the moment . They need to win all the matches going forward to make it to the semi's.

Rajasthan Royal's are the underdog's to the tournament and they cashed all their chances. Another interesting team is the Punjab. They are becoming strong match after the match. Delhi showing sign's of weakness and their middle order need to pull back if Sehwag and Gambhir fails to make good opening partnership.

Lets see how it goes for the coming week.