BANKING stocks to fall 7-10% from here

BSE BANKEX (10684):- Banking Index Gapped down (10937-10931) on 25/June and it closed a Gap-up level indicating weakness any Gap-down today is more negative with 100DMA=10462 & 200DMA=10151 likely support levels 9550 & 8800 possible, ICICI BANK having 27% weightage HDFCBANK 20%, SBIN 19%, PNB 4%,  BOB3.7%

Caution 7-10% correction possible in index, stop loss 10975 and target can be 9550 and below.

India Monsoon Stalls, May Diminish Sugar, Rice Crops, Hindustan Times Says---The monsoon, 21 percent deficient in the week to June 23, is unlikely to progress to India rice-growing areas before July 4, according to the report. http://www.bloomberg.com/news/2010-07-01/india-monsoon-stalls-may-diminish-sugar-rice-crops-hindustan-times-says.html

Monsoon in India Was 16 Percent Below Normal in June, Weather Bureau Says http://www.bloomberg.com/news/2010-07-01/monsoon-in-india-was-16-percent-below-normal-in-june-weather-bureau-says.html

http://www.akprabhakar.com/analysis.php  APIL Big beneficiary of Indian Nuclear story

http://www.akprabhakar.com/fabulous15.php  GICHOUSING & IFCI Break-Out

CAUTION in BANKS & METAL Market weak be stock specific, Banking Technically 10% or more correction

http://www.akprabhakar.com/research.php  NHPC good investment to capacity to double in 3yrs