Nifty watch :- july 30th 2008
Intra-day support & resistance:
|
S 2 |
S 1 |
Pivot |
R 1 |
R 2 |
|
4089.70 |
4139.70 |
4209.40 |
4259.40 |
4329.05 |
Major support is 4116-4150(20-13 days moving average). Resistance will be 4280 and 4350. market will remain volatile only. 4389 is stop loss to all short positions. RBI Governor did not leave any stone unturned to ..?.. the stock market or ..?.. inflation. There could be many other way outs:- import of grain and other eatables from countries like Australia to tame inflation (increase the supply at better rates) and keeping money market more liquid to produce export oriented product at better competitive rates to generate forex . But its easy to express views. RBI Governor must have worked out all other alternates before taking decision to increase repo rate and crr. Let’s hope that these monitory steps will show its impact on inflation numbers without denting much to growth. This is the time when market have already reacted a lot. So chances are that market, inflation and growth will manage to show some favourable signs in future.
Yesterday we asked :-Will dow take support @11150/-? Today answer is very loud …..yes….its just mathematics only.
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.
