LIFE, MONEY, ART, PHILOSOPHY, GOD AND YOU

Mumbai Terror : An eye opener to India

2008-11-28T21:39:00.002+05:30

Very unfortunate to write about this also when this wrting up after a long gap of one month. Despite being busy today cant stop my self to write about it. The mascares which i was closely wathcing on tv thrugh net along with work shows how much pain they were suffereing live there.

What they all wanna to do is still a no longer question with us, but in the style and manner they do is a strange how could it happen at the center of my country. Do we really remain Safe in our conutry or is it the same INDIA are we moving to become a republic like congo.

I pay My salute to all those fight at mumbai centre and pray for those who suffer from this Disaster.

May God no one will ever have to write up about such incident in future.

Regards

Amit Daga

A Week Long Holiday

2008-10-29T11:12:00.002+05:30

Dear Readers,

This Blog will not get Daily Market outlook and other update for two weeks. I hope you will revisit this and find all interesting news, views and outlook very soon.

Regards

Amit Daga

Happy Diwali

2008-10-28T17:44:00.002+05:30

Dear All,

Wishing You and your Family a very Happy & Prosperous Diwali, May this Diwali and New Year Bring Lots of enjoy in form of sweet and happiness in form of Crackers.

With Warm Regards

Amit Daga

Daily Commodity Market View - 27th Oct, 2008

2008-10-27T10:08:00.002+05:30

MCX Gold: Market in short term likely to form bottom at 11420 and likely to seen major support at 11670 levels. Speedy fall in prices and good corrective pull back after shows a picture of neutral to upside now. How ever a correction towards 11760 may happen to rise further towards 12420 in this week. How ever close below 11430 will trigger more downside in prices and lead to another fall approaching 10700. We favour market likely to move upside with 11670 as a major support.

Mcx Silver : Prices still finding resistance at 17980 to breach the downward trend in short term. Ideally prices likely to test 17540/17730 to fall further towards 16120/15700 in this week. Only on break and closing above 18130 will neglect this bearish view and market can approach another upside rally along with GOLD. Decoupling with GOLD and major trend coming from basemetals will maintain downside pressue in silver prices for a long term.

MCX Copper: As long as 213 caps upside we are quite bearish on prices which likley to stay for long untill major stock indices world wide shows some support and move upside. Prices will remain in broader range of 217/183 for this week where break out of this range will predict another prices target.We favour prices to correct some how till 207/211 to fall further towards 183. How ever any closing above 217 can trigger for heavy short covering and market can approach towards higher range.

MCX Crude Oil: 3570 will be the major resistance for prices now to break this downturn trend in this week. Ideally prices are now approaching towards 3170/3010. An upside moves towards 3430/3470 can seen to fall further towards our target. Any move breaking and closing above 3530 can doubt this view.

Mcx Zinc: As long as 60.20 level holds we expect prices to remain downside with lower targets of 52.20/49.70. Only on break of 60.70 can trigger prices to move upside and neglect this view. Market can apporach 57.80/59.10 to fall further downside to target levels.

MCX Nickel:Ideally market should holds above 460/445 to move upside towards 505/523. Broder range for nickel will be 430/505 only on break of these levels next level target

can be seen in market.

*READ DISCLAMIER

Bear Enter in Your ROOM, U can't Escape.

2008-10-24T16:54:00.002+05:30

This bear enters in your bank account money parked in realestate stocks commodity every where u thought that bull will ride your fortune, THIS BEAR ate that all. NOW THINK what will be his next action .

Wait & watch Blog for some interesting news.

Daily Commodity Market View - 24th Oct, 2008

2008-10-24T10:10:00.002+05:30

Mcx Gold : Expected Major correction seen in market in last four session witness heavy liquidation of long position in market. Currently market is trading above support level at 11470. A Corrective pull back rally is expected towards 11850/11920. Major support still seems at 11560 and closing above this level can push prices to higher levels. Ideally one should buy at lower levels with s/l below 11510 for target of 11830.

Mcx Silver : Prices are showing some bottom formation at 16700 levels which if it hold a corrective pullbacktowards 17550/17820 is expected, Ideally market will move upside with good support at 16850. It can touch that support level to move upside level. on break of 16660, there will be doubts on this view.

Mcx Copper: Immediate downward trend in copper prices likely to bottom out at yesterday low, however picture is still neutral to bearish but a strong pull back rally to upside is likely to happen with major support seems at 196 and upside target will be 217/233. Also heavy shed off of OI in market suggest that shorts has been covered in market and it can move towards upside.

Mcx Crude Oil : Prices are moving inline to our expectaion with major support still lies at 3370 and upside move towards 3510/3570 is open. Ideally today market can correct upto 3420 to rise further to 3510 level. How ever on break of 3360 picture will turn into bearish and market can move lower to 3270. Buying on dips is recomended with s/l below to support level.

Mcx Zinc : Base Metals compex after a heavy sell off shows bottom out levels at thier previuos day low. Ideally Zinc should hold above 55 level to approach upside to 61.10/62.7.

Mcx Lead : Prices falled sharply and correct more sharply. As long as 66.10 hold at upside a fall towards 63.50/62 is expected however in positive closing can trigger to upside move towards 69.10 on break of 66.80.

Mcx Nickel : Very Major support now lies at 457 and prices likley to bottom our for few session. Ideally Prices should hold above 467 to move upside towards 495/503. On break of 461 we cast doubt on this view.

*Read DISCLAMIER

Survey of commodity specialists in banking: A Trend will seen in Future.

2008-10-23T14:54:00.003+05:30

Following are the results of a survey of investment banking specialists working in the natural resources area about their career and earnings prospects.

The survey of more than 600 companies in the commodities sector and 500 potential candidates in analysis, equity research, corporate finance and sales was carried out last week by UK-based recruitment firm BlackSheep Selection.

Q. Have you hired staff in the last 6 months?

-- 32 percent said yes

-- 68 percent said no

Q. Do you intend to hire new staff in the next 6 months?

-- 48 percent said yes

-- 45 percent said no

-- 7 percent said they had a recruitment freeze

Q. In the past 3 months, have salary packages offered to potential hires:

-- 11 percent said increased

-- 30 percent said decreased

-- 59 percent said stayed the same

Q. For you last senior hire, did you have to offer a signing-on bonus?

-- 27 percent said yes

-- 73 percent said no

Q. For your last senior hire did you have to guarantee a bonus?

-- 22 percent said yes

-- 78 percent said no

Q. In 2009, do you think your team will:

-- 4 percent said increase dramatically

-- 32 percent said increase slightly

-- 39 percent said stay the same

-- 22 percent said decrease slightly

-- 3 percent said decrease dramatically

Q. Have you changed jobs in the last 12 months?

-- 37 percent said yes

-- 63 percent said no

Q. Will you be looking to change jobs in the next 12 months?

-- 28 percent said yes

-- 72 percent said no

Q. How would you describe your feeling of job security?

-- 7 percent fear redundancy

-- 32 percent were unsure about the long term future

-- 61 percent felt their jobs were safe

Q. I think my next bonus (annualised) will be:

-- 16 percent said nil

-- 51 percent said worse than last year

-- 16 percent said same as last year

-- 17 percent said better than last year

Q. In 2009, do you feel your career prospects will be:

-- 40 percent said better than in 2008

-- 60 said worse than in 2008

Q. Do you feel your long term career lies in:

-- 57 percent said investment banking

-- 34 percent said natural resources industry

-- 9 percent said other.

This may help us to understand a genral feeling running inside financial peoples In EUROPE

Daily Commodity Market View - 23th Oct, 2008

2008-10-23T10:09:00.000+05:30

Mcx Gold : Prices Dropped sharply in previuos session as strong dollor and weeker crude oil trigger for liquidation in gold market. Prices likely to trade on lower side. Slightly pull back towards 11970/12040 can be seen to fall further towards 11550.Today market can remain rangebound in 11660/11930.

Mcx Silver : Silver moves inline to our expectation after reaching its resistance level it fall. short term picture still look bearish to neutral. Ideally prices trade below 17430 will trigger it to

16700.

Mcx Copper: Continous fall in prices due to lower demand and weeker economic out look, can continue for another few session. Copper now approaching towards 193 level in coming session. with upside pullback towards 217/223 can be seen.

Mcx Crude Oil : More down side level in crude oil is approching with major support lies at 3370. On break of it we can expect prices to fall further towards 3120. How ever if prices sustain above support level a upside move towards 3470/3510 likely to happen.

*Read DISCLAMIER

INDIA QUEST TO MOON AHEAD OF CHINA.

2008-10-22T11:27:00.007+05:30

"Destination Moon ... Historic Day For India"

India launched its first unmanned moon mission on Wednesday following in the footsteps of rival China, as the emerging Asian power celebrated its space ambitions and scientific prowess.

Chandrayaan-1 (Moon vehicle), a cuboid spacecraft built by the Indian Space Research Organisation (ISRO) blasted off from a southern Indian space centre shortly after dawn in a boost for the country's ambitions to gain more global space business.Chinese astronauts were feted as national heroes last month after their country's first space walk, and India did not want to be left behind.

Greeted with patriotism in the media, the launch appeared to have helped India regain its self-confidence

ISRO scientists visited temples to seek the blessings of Hindu gods before the launch, and afterwards some expressed relief that rain had held off until the rocket was in space."The rain gods have been kind to us," Madhavan said.

The project cost $79 million, considerably less than the Chinese and Japanese probes in 2007 and ISRO says the moon mission will pave the way for India to claim a bigger chunk of the global space business.

*For More Info: http://in.reuters.com

Finnaly Arrested

2008-10-22T10:58:00.003+05:30

To whom this fingur is going on .?? North Indian, Poor People, Goverment or is this really Eyeing for the share of power. A difficult answer to even those who follow him.

Police in Maharashtra arrested Maharashtra Navnirman Sena (MNS) chief Raj Thackeray on Tuesday after attacks on migrant workers, sparking violent protests and the shutting of some businesses in the financial hub of Mumbai.Thackeray, who heads the small but vocal MNS, was arrested on charges of rioting, a police spokesman said, and was brought to Mumbai. He will be held in jail for at least two weeks.Hundreds of MNS supporters shouted slogans, stopped taxis and autorickshaws and threw stones at police outside the Mumbai court where Thackeray was brought.

Maharashtra, India's most industrialised state, has long been a magnet for job-seekers, particularly from Uttar Pradesh and Bihar, two of India's poorest states. Less than half of Mumbai's 17 million residents are from the state.

I think our law maker were so fool that they did not realise that such people will come in society and represnt a whole community by few people, who actually suffering from poverty, illiteracy and modern facilty in society, start dividing this country on name of region. Its wrong quote in LAW that any citizen of this country can rome, trade, do work and what ever he wants to do. Ideally we should restrict ever thing from one region to another that means those marathis living out side Maharashtra send back to thier region. I think good idea. But who told those Stupid demonstrater that by sending them is not a solution.

I surprise how late this action is to arrest the man who broke this flaimable fire in INDIA about region for the sack of his own political ambition. one should understand, they need food, shelter, good education not send north indian to thier region, It is a right to move any where in country given by law. May be he need that lession in jail.

A Smily win in this tough time of Pressue.

2008-10-22T10:45:00.002+05:30

India wrapped up a crushing victory over Australia by 320 runs on the final morning of the second Test at Mohali to take a 1-0 lead into next week’s third Test at Delhi.India wrapped up a crushing victory over Australia by 320 runs on the final morning of the second Test at Mohali to take a 1-0 lead into next week’s third Test at Delhi.

India were in control of this Test from the moment they won the toss on Friday morning, but their supremacy over a side that doesn’t 'do defeat' far transcended the flip of a coin. They had the five highest scorers in the match.Much will be made of Amit Mishra’s contribution, and rightly so: his googly was an instant hit and his control merely highlighted the deficiencies of his opposite number Cameron White.

It all leads to the inevitable question: are we approaching the end of a green-and-gold era that has lasted since the mid-1990s? The same was asked when Australia lost the Ashes, only for them to retaliate with a 5-0 whitewash over England 18 months later. But on that occasion they still had Shane Warne, Glenn McGrath, Adam Gilchrist and Justin Langer. Now there are more problems than positives.

We as a spectator likes to watch good cricket with performance and tough resistance from both sides.

Daily Commodity Market View - 22th Oct, 2008

2008-10-22T10:04:00.001+05:30

MCX Gold: Prices failed to sustain above 12570 trigger heavy sell off in previuos session. How ever market falls before it reach 12970 level in this week, which shows neutral to side war movement in prices. Intra day range 12550/12290. Ideally Prices take support at 12310 to hold and correct upside to 12440.

Mcx Silver : Moving in line with our expecation and showing some bullish sign despite weeker base metal and gold. How ever short term picture is still neutral to bearish with immediate resistance at 17940 and channel reistance at 18350. Ideally prices like to find resistance at 17870 to fall towards 17550.Intra day range 17380/17910.

Mcx Copper : Prices break 233 level and approach to 225. And moving in line to our view, market still not bottoming out and more down side levels can be seen in market. How ever a corrective pull back rally is more likely to happen in RSI below 30 and over sold from 255 levels. Intra day range 223/247.

Mcx Crude Oil: Prices failed to hold above 3630 dent our bullish expectation and shows down side move in previous session. Market looks to open more down side to 3470 with resistance at 3637. Crude can enter into bullish sign again if it break 3630. Intra day range 3510/3657.

Mcx Zinc: Prices dropped as per expectation in previuos session. RSI Below 20 and high OI shows huge shorts are buliding up in these levels. As long as 59.1/58.70 holds prices likey to touch 55.10/53 level.Intra day range 52.90/57.80.

Mcx Lead : More downside in prices likely to happen with resistance at 68.70/69.30. Ideally prices will resist those levels and fall towards 65/63 level. As lead prices are still not falled much, more downside likely to seen in market.

Mcx Nickel : Prices touch to 546 levels at our resistance and fall from there. Currently Nickel looks over sold and a corrective pullback rally can happen. Prices hold above 517 will move it to

upside towards 543/557.Intraday range 527/561.

*Read DISCALMIER

Daily Commodity Market View - 21th Oct, 2008

2008-10-21T10:01:00.002+05:30

Mcx Gold : Prices finding support at 12570 to hold and move upside till 12830. How ever prices fails to break major low indicate to move further upside. Ideally Gold will rise to 12770/12850 with support at 12630.

Mcx Silver : Prices moves inline with our expectation yesterday with major support still holding at 17170. Ideally prices will move to level of 17770/17920 to cap upside and correct from there to 17340.

Mcx Copper : Copper currently trading in a wide range of 233/253. Only a break of these levels will further open channel towards 217/207 in down side and 263/271 in upside. Picture still looks bearish to neutral in short term. How ever a corrective pull back rally and positive closing in expected in market in next two sessions.

Mcx Crude Oil : Prices are moving perfectly with our expectation as we expect prices to remain upside with major support at 3590. A correction towards 3720/3670 is likely to happen and thereafter an upside move to 3840 is expected.

Mcx Zinc: Resistance at 61.70 and there after 62.20, only on break of these levels zinc may move upside to 64.30, how ever prices expected to remain in pressure with down side target towards 57.50/55.10.

Mcx Nickel : Nickel breakes support at 537 amd now enters in more downside levels. Ideally prices can bounce towards 543/547 to fall further towards 495.

Mcx Lead : Prices falled in previuos session inline to our expectation, and shows more down side moves in coming session. As long as 72.10/30 holds a downside move to 66.10 expected. Intra day range 68.70/71.70.

*Read DISCLAMIER

Pointing Feel the Heat of its own treatment.

2008-10-20T22:43:00.003+05:30

Harbhajan Singh and Ishant Sharma wrecked Australia's top order to leave India on the verge of a big win in the second test on Monday.
Australia were 141 for five at stumps on day four after India set an improbable 516-run fourth innings victory target, giving themselves four-and-a-half sessions to seize a 1-0 lead in the four-match series.

Led by opener Gautam Gambhir's 104, India raced to 314-3 before stand-in skipper Mahendra Singh Dhoni opted to end the innings one hour after lunch. India's performance contrasted with Australia's failure with both bat and ball on the slow Mohali pitch. Harbhajan derailed Australian hopes of saving the game as the openers made a desperate bid to hit their way out of trouble.

Australia Leader in International Cricket from almost a decade rulling after winning 1999 world cup and now they are some how facing the same treatment which they gave earlier to others.
I wish India will become that ruler for next decade almost.

Star Tv Terminate Famous Daily Sop Of Balaji Telefilms

2008-10-20T11:54:00.003+05:30

Balaji Telefilms Ltd said on Monday SGL Entertainment Ltd, part of broadcaster Star group, has terminated sourcing and telecasting TV serial 'Kyunki Saas Bhi Kabhi Bahu Thi' from Nov. 10. The serial is produced by Balaji and the termination is in breach of contractual obligation owed by the Star group to Balaji.

Balaji is pursuing all legal remedies available to it, it said.

Star is owned by Rupert Murdoch's News Corp.

The decision comes at a time when fight for TRP and viewership is becoming so tough and close to hold as lots of new entertainment channels are flourshing day by day with new content, after ruling the indian tv space for very long term.. The serial is more or less like a burden on bouqtie of STAR TV which looking for a fresh make over of it.

I hope this action will surely give relief to so many men, who has to forcibly see such serials at home. A right action some how favours all even to balaji too..

Daily Commodity Market View - 20th Oct, 2008

2008-10-20T10:05:00.003+05:30

Mcx Gold : Prices finding support at 12470, as long as 12530 hold prices likely to move corrective upside level to 12790/12910. Trend is still neutral to bearish where some corrective upside move to 13150/310 likely to happen in this week. Prices likely to bounce earlier for further fall towards 12070 in this week.Intra day range 12630/12890.

Mcx Silver : As long as prices holds above 17100, silver can move upto 17790/18100 in this week it has to cross above 18470 to break the downward trend for short term. Ideally prices will correct till 17890 levels to fall further towards 16600.Intra day range 17070/17690.

Mcx Copper : Prices failed to sustain above 250 shows more down side left in copper. Ideally Copper can retest 257/261 in this week to fall towards 217/210.Intra day range 237/243.

Mcx Crude oil : Ideally Prices are finding support at 3430 to hold the more down side channel towards 3190. Good buying support and corrective pull back rally likely to happen with prices take support at 3530/3490 to hold and retest levels of 3770/3830 in this week. Intra day range 3570/3710.

Mcx Zinc : Prices are finding support at 57 levels to hold. Sharp decline in prices in last two weeks witness over sold levels to zinc and DAY RSI below 20 indicate for a corrective pull back rally ideally to occur. Weekly prices should find support at 54.7 levels to hold and retest upside levels of 66.70/69.10.Intra day range 58.70/62.30.

Mcx Lead : Prices are still above 70 mark and more expensive than zinc at current market prices shows fundamentally prices are not correct totally. Ideally prices will take resistane at 72.30 to fall further towards 66.70/63.40.Intra day range 69.20/71.55.

Mcx Nickel : Prices Likely to find support at 537 and major support at 489. As RSI is below 20 and sharp decline in prices from many sessions shows over sold levels in nickel. Ideally prices should hold at 527 to seen a corrective pull back rally to 637/667 in this week. Intra day range 533/567.

*Read DISCLAMIER

Federer surpasses Sampras to top career earnings list

2008-10-18T14:38:00.002+05:30

World number two Roger Federer has surpassed Pete Sampras to become the all-time leader in career prize money earnings in men's tennis, the ATP said on Thursday.The five-times U.S. Open champion took his career earnings to over $43.3 million at the Madrid Masters this week.

American Sampras earned $43,280,489 in a glittering career that included 14 grand slam titles. Federer is one behind that record too with 13.

Luxury mall showcases wealth gap in India

2008-10-18T12:53:00.004+05:30

With gold-plated ceilings, exotic fountains and the clink of champagne glasses, the Emporio Mall in New Delhi is the perfect place to wile away a hot afternoon browsing through designer boutiques.The mall, adorned with palms and scented with lavender, is the exclusive playground of India's rich, which despite the effects of the credit crisis still have plenty of cash to buy designer accessories with thousand dollar price tags.Getting access to this little piece of air conditioned paradise amid the hustle and bustle of the sweltering capital will cost $5. That's about one week's salary for 80 percent of India's billion plus population.

"So, we are tending more and more towards a kind of apartheid, a kind of separation that is very sharp and sharply visible in our cities, in gated communities".The widening wealth gap has major implications for India, which faces a general election next year, and has been plagued by waves of violence in its provinces that analysts say is at least partly due to the socioeconomic divide alienating segments of society.

In This Globlised World , its is just a glimpse of luxury which INDIAN likely to adour in thier lifestyle culture.I wish customer of these malls will also contribute for welfare of poor people of society.

Stocks Trumble : Reality of Fear and Greed

2008-10-17T18:40:00.008+05:30

CHART :1

CHART : 2

* Please Click on the image for Larger View

Indian shares shed 5.7 percent on Friday to their lowest close since June 2006, collapsing in afternoon trade as fears of a looming sharp global economic slowdown kept investors wary of risky assets.

The risk aversion has gone up significantly on growing global as well as local headwinds."

Heavy selling by foreign funds as the global financial crisis deepened and cuts in guidance by companies added to the gloomy outlook

The 50-share NSE index fell 5.96 percent to 3,074.35, More than half to its previuos high value

The 30-share BSE index ended down 5.73 percent, or 606.14 points, at 9,975.35, its lowest close since June 20, 2006

These are some headline which will likely to appear on news paper tommorow. But as we are living in internet world we are fortunate to post our message before any delay of time. Its very unfortunate for me to write such article due to pain & sorrow occur cause of it.

But all not gone extremely wrong all of a sudden but instead the entire film was making under the carpet of Financial Turmoil. Refer Chart2 : At time when a bubble was bursting and financial turmoil shaping its face & body. We are witness one of the biggest bull run in stock market. May be now we know that trap was there and almost all hunt hunted by hunter. But at this time even Hunter not get spared from this massive killing

India as a economy lost all the gains of the current fiscal in its market value with a depreciation of close to Rs 3 trillion (about $80 billion) on Friday with heavy weight corporate like reliance, ICICI and many other looks like a small kid in thier valuation.

But why this all happen a very Big question to reply and understand. Earlier there was no fear in market and even pan riksha wala talking about stock, i personally feel this is top of market but due to the black spacks on our eyes we forget all bad news in market and never realise the storm strength which was building slowly in the form of what we now called as 'FINANCIAL TURMOIL'

India's foreign exchange reserves fell to $274.004 billion as on Oct 10 from $283.941 billion a week earlier, the Reserve Bank of India (RBI) said in its weekly statistical supplement on Friday.Reserves have declined sharply in recent weeks due to the RBI's dollar selling in the currency markets to shore up a falling rupee. India's reserves have fallen by $17 billion in th two weeks ended Oct 10.

And more effect is likely to witness from financial to hotels to retail industry. Entire economy is going to face the side effect of 'GLOBALISATION'

Refer Chart1 :: When the chart comes out and send to many , not so many takers of this view or even ready to listen the logic behind it. Now as scene is changed unfortunately every is worry. I am still getting calls and message for view. But as there is a say 'gaya hua waqt aur kharch kiya paisa dubara nahi ata'. Just keep check this blog for more updates and views.

Refer Chart2:: In current scenario market is in bear phase with small pullback will be seen by time to time.

Using a classic definition of a bear market, we can say there have been nine bear markets in the last 50 years. In the worst, it took 90 months, or 7 1/2 years, to go from the market peak to the bear's trough and back to the former peak. However, returns are time-sensitive, so when you begin to measure those returns will determine how a bear market will affect you personally.

Cant Say how much time our market will take to come out and what lower levels it will touch before a new BULL rise.

* Comments are Appreciable for Future PERFECTION

*Read DISCLAIMER

Crude Oil Outlook

2008-10-17T11:20:00.007+05:30

*Click on the Image for Larger View

Prices in crude are witnessing heavy sell off and correction after it peaked at $147 in mid may. In only three months prices are trading more than half to its previuos high cause of fund liquidation, economic outlook, Higher inventry levels, and projected lower demand. But all this happens with some cause as simple as that rule Steep High and Than Straight Fall. Picture in current scenario looks very bearish to neutral due to world economic outlook and weeker demand worldwide.

Currently market trading above $71 after touching low at $68.77 in previuos session. We can expect prices to move higher from next week and likely to bottom out at $68 levels, on break of $75.20 immediate level to touch likely be $79.80 and ideally it should move towards $81.30 and than fall further to $70 and if sustain above $83.70 on week closing basis upside target to $92.70 should met.

In current market prices only if prices break below $66, more downside level of $63-$57 is expected which is not likely to occur in current scenario With next week we are expecting prices to bounce back technically towards higher level. Recomend to stay on long side with weekly close below $66 as s/l.

Refer Chart: Prices in both trend trade in channel of support and resistance , on break of this down side trend in short term at $63-$57 we can expect to move to in another channel range of $73-$113.

* Read DISCLAIMER

Daily Commodity Market View - 17th Oct, 2008

2008-10-17T10:05:00.003+05:30

Mcx Gold: Prices seen heavy sell off in previuos session which shows short term picture neutral to bearish. Prices idealy can test 12970/13040 to fall further towards 12720/550, After breaking upside channel support at 13140, prices will remain in pressure and heading towards 12130 in coming session.Intra day range 12570/12920.

Mcx Silver : Prices moved in line with our expectation and in one session level of 17000 reach. Today a corrective pull back to 17770/18010 is expected as long as 17350 holds. Intra day range 16890/17700.

Mcx Copper : Yesterday prices reach to its resistance 243 and fall from there to 230 levels. Ideally Prices today likely to form some bottom level at 233 and move to upside at 243/247 levels. Upper circuit on mcx prices can be seen in trading session. Intra day range 231/251.

Mcx Crude Oil : Short term down side levels reach in crude oil yesterday with heavy sell off prices below to 70$ in international,Expected that prices should form a base at these levels and can be taken 3430 as bottom level for short term. Corrective pull back towards 3580/3630 is expected. Channel resistance seems at 3610 and support at 3380. How ever prices ideally should remain on upside for intra day.Intra day range 3455/3650.

Mcx Zinc : In past three session Zinc lost by more than 18% of its value on Mcx. Today ideally prices should move to corrective pull back with support at 58.30 and target levels of 62.10/64.70. Intra day range 57.90/63.10

Mcx Lead : Support seems at 67.60 and ideally prices to move upside towards 71.10 with channel resistance at 69.70. Intra day range 68.10/71.70

Mcx Nickel : Prices are still trading in neutral to bearish zone with support at 550/537. corrective rally likely to witness intra day with resistance at 571 and support at 557.Intra day range at 591/553.

* Please see DISCLAIMER

Looks like a Devotee !!!

2008-10-16T17:45:00.002+05:30

Railway minister Lalu Yadav offers prayers with his family at Nageshwar Temple in Dwarka, Gujarat.

Destiny To Moon: Another Milestone achivment of INDIA

2008-10-16T15:25:00.002+05:30

India is all set to reach the moon and that too in its own way, literally! The first Moon mission, an unmanned remote-sensing satellite called Chandrayaan-I , is set for launch. The results of this initiative is which would a long way in realizing the value of our closest celestial body and the emergence of new possibilities. Few facts on Chandrayaan * This spacecraft weighs 1304 kg (590 initial orbit mass and 504 kg dry mass) * The estimated costs for this ambitious project would be INR 3.8 billion * The power generation would be through a canted single-sided solar array to provide required power, 700 W at peak. * During eclipse the spacecraft will be powered by Lithium ion (Li-Ion) batteries. * The spacecraft carries propellant for a mission life of 2 years. The mission aims to carry out high resolution mapping of topographic features in 3D, distribution of minerals and elemental chemical species, and look for water ice in its polar regions. ISRO hopes to launch Chandrayaan-1 from the Satish Dhawan Space Centre near Shriharikota this year.

Madonna and Guy Ritchie agree to divorce

2008-10-16T13:43:00.000+05:30

U.S. pop star Madonna and British film director Guy Ritchie have agreed to divorce, they announced on Wednesday, ending nearly eight years of marriage and months of tabloid speculation over their relationship.
The celebrity couple, who have a joint fortune estimated at around $525 million, have yet to reach a final settlement on the terms of the split.
"Madonna and Guy Ritchie have agreed to divorce after 7-l/2 years of marriage," Madonna's representatives in New York and London said in a brief statement.
"They have both requested that the media maintain respect for their family at this difficult time. A final settlement has not been agreed upon yet."
The couple have a son, Rocco, who was several months old on their wedding day in December 2000.

BSE Sensex extends losses to 7 pct on day

2008-10-16T13:39:00.000+05:30

The BSE Sensex extended its losses to more than 7 percent on Thursday, falling to its lowest since July 2006, after global recession worries roiled overseas markets.
Reliance Industries, India's most valuable listed firm, led the losses, falling 12 percent.
At 11:20 a.m., the 30-share main index was down 6.9 percent at 10,059, with all but one component falling. The index extended its losses to 50 percent so far this year.

[Daily Market View] - 16th Oct, 2008

2008-10-16T10:20:00.000+05:30

Daily Commodity Market View - 16th Oct, 2008

MCX Gold : With Strong support at 12970 and 13070, Prices likely to retest levels of 13550/13710. As long as 13170 holds intraday we can expect moves to upside towards 13350/13410. How ever direct fall below 13140 will trigger prices to move at lower range. We expect prices to remain upside till major supports hold at lower levels.Intra Day range 13110/13520.

MCX Silver : Silver Breaks some major support yesterday after testing high level of 18890. Prices seems to be in pressure due to heavy sell off in basemetal prices and shrinking world economy. How ever double bottom on daily chart shows that some upside move to 18310/18470 likely to test with support at 17970. How ever current picture seems to be more bearish after previuos session, which can lead prices to 17300/16700 in short term if it not break 19110 on upper range. Intra day range 18070/18510.

MCX Copper : Prices moved inline with our expectation and after testing its resistance levels fall to 237. Prices in short term remain bearish and down side. A possible level of 221/213 can be seen in market in coming session. As market after breaking major supports are heading to its five year low levels. How ever a corrective pull back to 247/253 can be seen.Intra day range 229/245

MCX Crude Oil : Prices failed to sustain above 3770, showing more weeknes in market with strong resistance at 3830. Market likely to open at lower levels till 3570. Immediate support at 3630 with resistance at 3745. Intra day range 3550/3750.

MCX Zinc: As long as 63.70/63.10 hold at bottom, a corrective pull back towards 66.20 is expected, prices still in bearish channel with strong resistance at 72.70. Ideally prices should move upside to 65.70/67.10 with support at 63.70, only on break of 62.90 we doubt to this view. Intra day range 64.10/67.30

MCX Lead : As long as 75.10 cap upside we can expect prices to move more lower to down side at 71.10/69 levels in coming session, how ever a direct rise above 76.70 can doubt this view. Ideally prices moved to 75.70/76.10 to fall further towards 73.40/71.10.Intra day range 73.10/76.90.

MCX Nickel : As Long as 550/530 holds in down side, a corrective pull back rally can be seen towards 587/593. Intra day range 553/587.

* Please see DISCLAIMER

Market TurMoil

2008-10-13T10:49:00.002+05:30

Market Crased with more as expectaion..