Nifty watch:-  25.07.2008

Its mathematics only :-Yesterday it was written “Nifty closed @4476.80(major resistance) for short term and 5 days rsi has reached to 83(means over bought), hence there is possibility of correction of 100 to 150 points (may be intra day).” And  there are chances that crude may bounce from $122/4 to $127 – $131. and it happened ,that’s grace of GOD. Crude is fluctuating from $124 to 127 to 124 to 127 to 124 and so on….. . 3^rd it was told that dow has resistance @11700, just 2 days back and look it has reacted from there like anything. Sales of previously owned U.S. homes fell in June to the lowest level in a decade as tumbling real- estate prices and consumer confidence signalled no end in sight to a housing recession now in its third year. The NAR report “is, unfortunately, not telling us about an end” to the slide, said David Resler, chief economist at Nomura Securities International Inc. in New York. “Housing is going to be a non-contributor, if not a drag, on the overall economy.” The Labour Department earlier today reported that first-time claims for unemployment benefits rose last week to the highest in almost four months, a sign the slowing economy is weakening the labor market. Applications increased by 34,000 to 406,000 in the week ended July 19.  Its mathematics only. Inflation for the first time since May eased by 0.02 per cent to touch 11.89 per cent mainly due to moderation in prices of certain food items like sea fish, tea and imported edible oils. High inflation, which is ruling at 13-year high level, may force the Reserve Bank to further hike short-term lending (repo) rates as well as statutory deposit requirements when it reviews the credit policy on July 29. 11.89% does not indicate cooling of commodities. It indicates only that commodities prices are increasing and increasing @ 11.89%. good news is restricted to only controlling speed of growing % of INFLATION…..

 Intraday support & resistance:

S 2	S 1	Pivot	R 1	R 2
4299.35	4366.45	4452.95	4520.00	4606.50

 

TREND DECIDER OF THE DAY IS :- 4439

SUPPORT : 4282.5 AND 4366.

RESISTANCE :-  4520 AND 4606.

STOP LOSS TO ALL POSITIONAL BUY : 4078.

STOCKS TO WATCH ARE : UNITED PHOS & THERMAX

DENA BANK TREND DECIDER : 47/-

CROMPTON GR TREND DECIDER : 257/-

CANARA BANK TREND DECIDER : 188/-

 

LIFE :-

 

Prayer is neither black magic nor is it form of demand note. Prayer is a relationship—

–John Heuss

 

 

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.