NIFTYWATCH
JULY 08TH 2008
Intraday support & resistance:
|
S 2 |
S 1 |
Pivot |
R 1 |
R 2 |
|
3950.45 |
3990.20 |
4052.35 |
4092.10 |
4154.25 |
Yesterday it was written “MARKET is very much in range 3824 and 4119 “.And nifty touched 4114 and reacted from that level only. It is just mathematics. I am student of technical only, but results/outcome really surprise me. Why 4114 ? It could be any other number. A confident Prime Minister ManMohan Singh yesterday categorically stated that India would go to the International Atomic Energy Agency, for the safeguards agreement on the civil nuclear agreement with the United States, very soon. The Left parties had decided to pull out as soon as India goes to the International Atomic Energy Agency to sign the safeguards agreement with its board of directors or may be today after their meeting. Today is the day when we can see real action, hence caution to all for the day.
Crude is again in range of $145 and $131, facing resistance at higher levels. but rest of the global signals are not good at any front except that commodities fall most since march , led by grains, as us crop outlook improves. “There was a lot of room for supplies to improve for a lot of commodities,” said Chip Hanlon, who manages $1.5 billion at Delta Global Advisors Inc. in Huntington Beach, California. “Markets had been panicking because of one-time supply threats that no longer pose as much of a threat. It’s going to be much quieter for commodities for the rest of the year.”
Trend decider for the day is range of 3977 – 4057. any break out will decide the trend for the day. 4119 is stop loss to all short positions. 3848 (5 days lowest low ) will work as a strong support.
News:-. South Korea, India and Vietnam will fail to halt declines in their currencies by using intervention because their economies are slowing and trade deficits widening, said Morgan Stanley, the second-biggest U.S. securities firm.
Intra day calls :-
STOCK WATCH:- PIVOT ARE THE TREND DECIDER for the day
Lupin :-
Intraday support & resistance:
|
S 2 |
S 1 |
Pivot |
R 1 |
R 2 |
|
584.15 |
625.50 |
662.15 |
703.50 |
740.15 |
Sell lupin on intra day rally.
Divis :-
Intraday support & resistance:
|
S 2 |
S 1 |
Pivot |
R 1 |
R 2 |
|
1320.10 |
1340.65 |
1372.80 |
1393.35 |
1425.50 |
Buy divis on intra day decline
DISCLAIMER :- We can’t dictate the market. Its an observation only. May , may not hold good. Much depend on govt. policies ,economic & political scenario. Its more of an informatics’ article only. Presenter /writer is not liable or responsible for any personal or financial losses or profits.
