MONDAY 21/07/2008

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9:30 A.M.

Politics

At the moment everything is overshadowed by Parliament debate and finally the vote tomorrow. Usually, voting takes place in the evening after the markets have closed. So, we might get reaction in the markets on wednesday. Keep a watch! Markets would also be reacting positively to absentations, if any, in the parliament during the debate these two days!

Crude Oil

has broken its support 130 as well. Now, it is expected to move towards $100 with $110 support on its way.

Earnigns

It is the earnings season and World markets would be reacting to it in all manners around the world.

World Markets

DOW has resistance 11750. Breakout, though unlikely, would be positive. Otherwise down towards 11000 again

FTSE resistance 5400-5500 would most likely be respected to reverse down again.

NIKKEI should hold support 12000, otherwise negative.

HANGSENG should also hold support 21000 other wise down trend again.

SHANGHAI break out range 2700 and 3000

BSE SENSEX Headed for resistance 14000. Breakout would give a target of 14700. Otherwise in sideways mode between 12500-14000 for few more weeks.

HappyTrading!!

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