Mcx Sell

GOLD SELL BELOW 12568 CMP 12602
SILVER SELL BELOW 24550 CMP 24625

Singapore Nifty 23-Jun

Singapore Nifty -58.5 point
42.9700 INR = $

Supports 23-Jun

major supports at 14075 levels on the sensex and 4248 on nifty.

23-Jun Headlines

New listing:
Oswal Spinning & Weaving to resume trading; no circuit filter today
Ex-dividend:
Sundaram Brake (Rs 6/sh)
BSP Withdraws Support From UPA Government; BSP Has 17 MPs In Lok Sabha
FM Urges Oil Producing Nations To Adopt A Price Band Mechanism, OPEC announces 2% hike in production
Fin Secy Says
Inflationary Pressures Will Persist For Next 3 Months
Expect RBI Governor To Take Monetary Policy Action
Dollar-Rupee Situation To Also Impact Inflation For Next 7 Mths

Market 23-Jun

Market May Be Volatile&Open with Down With Nifty 55 to 65 points
Suport:14300
Results:Tatapower,UniBew,CentBank
FII Sold 999Cr.In Cash MF bougt563Cr

News 23-Jun

News
23-June-08

Headlines for the day

Corporate News Headline
RIL would invest USD 215 mn and create over 200 new jobs at a newly acquired polyester plant in the US. (BS)
Reliance
Infrastructure is planning to invest Rs. 280 bn in the next three years
to make acquisitions in India and abroad, including coal mines in
Indonesia. (BS)
BHEL bagged a contract worth USD 428 mn for setting up a 500 MW power project in the eastern state of Jharkhand. (ET)

Economic and Political Headline
The
WPI-based inflation rate soared to 11.05% for the week ended 7 June as
compared to 8.75% in the previous week due to increase in the petroleum
product prices. (BS)
The
RBI governor met the Prime Minister to have discussed steps needed to
be taken to control the prices with inflation shooting to 13-year high
at 11.05%. (BS)
The
Chinese government, which controls domestic fuel prices, raised its
base price for gasoline by 17% and diesel by 18%. (WSJ)

Nifty 23-Jun

NIFTY FUT GOOD ABOVE 4350..NIFTY FUT WEAK BELOW 4280 LEVEL..4280 BELOW WE SEE 4250-4204.

Crude Oil

Crude Oil- Saudi Arabia may raise its oil production beyond a planned 200,000 barrel-a-day increase in July if the oil market requires extra supply. Saudi Arabia is prepared and willing to produce additional barrels of crude above and beyond the 9.7 million barrels per day, which they plan to produce during the month of July, if demand for such quantities materializes and customers needed

Mcx Weekly Calls

Mcx Weekly Reccomendation
23-June-28-June

WEEKLY Recommendation GOLD BUY AT 12346 S/L 12234 TGT 12637 & 12817 SILVER BUY AT 24009 S/L 23731 TGT 24738 & 25188

WEEKLY Recommendation CRUDE/AUG NYMEX SELL AT 136.74 S/L 137.96 TGT 133.57 & 131.60 MCX (JUL) SELL AT 5863 S/L 5914 TGT 5727 & 5643

Mcx 23-28 June

MCX 23-June-28-June

GOLD SPOT LEVEL'S Support:- 889.35/897.15/894.95/889.75 Resistance:- 903.85/906.40/909.25/913.85

GOLD MCX LEVEL'S Support:- 12485/12465/12430/12405/12380 Resistance:- 12570/12600/12630/12650/12730

SILVER MCX LEVEL'S Support:- 2400/24300/24150 Resistance:- 24575/24685/24775/24920

Inflation

Inflation had been high since 18 months but government was declaring figures on the lower side. Inflation is nothing less than 20 to 25% in INDIA as of date

NIFTY Cracked

Now it is foregone conclusion that interest rates are going to go up and corporate profits will decline in several of the coming quarters. In this back ground it is reasonable to assume that NIFTY will sink to a level of 3600 as per the chart This however this can take 3 to 6 months time to find the level of 3600. At that level of 3600 nifty would have retracted 56% from the top 6367. In the past , in bear phase indices have retracted 56%.

Mcx Weekl Rec

WEEKLY recommendation GOLD BUY AT 888.20 S/L 879.90 TGT 909.95 & 923.35 SILVER BUY AT 16.99 S/L 16.76 TGT 17.57 & 17.94

Next Week (weak)

Next week also very volatile,weak world mkt,F&O expiery,Crude oil,Politics issue,Inflation.

21-Jun Mcx Close

21-June-08

SPOT CLOSE RATE:- GOLD-902.25 SILVER-17.41 CRUDE-134.78 INR-42.93 EUR-1.5627 GBP-1.9768 JPY-107.27

End Of Day

It was an extremely disappointing day for the market, as well as the economy. Inflation for week ended June 7 came out at 13-year high of 11.05%, which was much more than expected. Global cues were weak and inflation added more fuel to the fire. Panic selling pulled the key indices to new 2008-lows. Sensex ended at 14,571, down 516 points from the previous close. Nifty shut shop at 4347, down 156 points. CNX Midcap and BSE Smallcap indicies lost 3.4% each. Realty, oil & gas, metal and banking stocks took the worst hit. Reliance Communications, Reliance Industries, JP Associates and Hindalco were among the ones that dragged the Sensex lower. But ONGC and Mahindra & Mahindra were the gainers on the Sensex

U.S. officials say Israel carried out a large military exercise this month that appeared to be a rehearsal for a potential bombing attack on Iran's nuclear facilities, The New York Times reported on Friday.:- Positive for crude and gold.

Israel Exercise Seen Readying Iran Strike, NYT Says June 20 (Bloomberg) -- A military exercise carried out by Israel seems to have been a rehearsal for a bombing attack on Iran's nuclear facilities and long-range conventional missiles, the New York Times reported, citing several unidentified U.S. officials.

Lotus Eye Care Hospital IPO

IPO of Lotus Eye Care Hospital subscribed by 0.99 times at 3 PM on FridayANyone Can STBT Nifty On High TGT 4240 or more

FII Selling Heavly

FIIs have been selling aggressively post noon today, while domestic institutions are on the sidelines
There's complete lack of buying interest. Uncertainity (political crisis) has been discouraging long funds to buy in the market. RBI to check inflation in coming days, therefore sentiment is low towards rate sensitives.