11 AUGUST TO 14 AUGUST

It will be a 4 days week, Friday the August 15th being Independence day.

WORLD MARKETS
DOW JONES(11734): A short term bear market rally is underway towards 12000. Long term still remains negative.
FTSE(5489): Uptrend is weakening amid buying pressure. Support 5300 likely to be held. Long term still negative.
NIKKEI(13168): Many bearish signals. Breakout range is 12900-13600.
SHANGHAI(2606): Weakness continues. Breakout range 2600-3000.
HANGSENG(21885): Support 21000 likely to hold, otherwise down towards 16000.
BSE SENSEX(15168): Breakout range is 13700-15800. Needs triggers to move in either direction.

CRUDE OIL
More likely headed towards support $100 in days ahead. But long term uptrend not negated until it breaches 100.

INFLATION
Signs of cooling down still not visible. Another tick up would dampen the mood more.

MONSOON
As said earlier, the rains are on as usual and we do not expect fractional changes to be taken into account.

REFORMS
The talk of economic reforms in India is gaining ground. The monsoon session of parliament in the next few days would be worth watching for this.

INTEREST RATES
No signs of softening in near future. Rather some uptick is being feared if inflation doesn't budge.

CURRENCY
US Dollar is gaining ground and Euro also has broken its support. Gold would also remain subdued due to this.