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Wednesday, July 16, 2008

UPDATES ON JULY 16 2008

JULY 16 WEDNESDAY

SHORT TERM TREND : SIDEWAYS : TARGET RS 83.50 TO 89

LONG TERM TREND : BEARISH : TARGET RS 65

S1 RS 83.60, S2 RS 82, S3 RS 80.40

R1 RS 87.40, R2 RS 89, R3 RS 91.60

MARKET IS EXPECTED TO MOVE SIDEWAYS.

LME Lead was modestly higher up $ 10 at

$ 1975 a tonne.

London Metal Exchange metals are under pinned by

record Dollar weakness on Tuesday and are keeping

a sharp eye on all matters related to the U.S financial

markets against the background of a potential melt

down , said Analyst and Traders.

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