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Technical Analyst Reports (1)   18-Jul-08 10:15Tracked by (0)  
Posted by:   zoombusiness on ( 18-Jul-08 10:15 )
Udyan Mukharjee from Money control---

US financial major Merrill Lynch's results were bad and so were Google's. The US markets may not look good ahead and that is worrying Asia.

The good news is crude fell from USD 148 per barrel to USD 130 per barrel. There are global cues, but mixed ones.


Karvy Stock Broking Technical Analysis report:--------

According to Karvy Stock Broking Technical Analysis report, Domestic indices may witness a strong opening and some short covering is likely to emerge post the lower than expected inflation data.

World markets have ended on a positive note. Domestic indices may witness a strong opening and some short covering is likely to emerge post the lower than expected inflation data.

Resistances are placed at the 13500/4050 levels.

The weekly charts have seen three consecutive candles with lower shadows which indicates that the sub 12000 levels invites continued buying interest which may validate our viewpoint of an intermediate bottom.

Stox and More Technical Analysis report --------

Sensex (13111) key share indices could open muted owing to cautious stance over sharp decline in crude oil prices.

We had recommended in our past articles that 12300-12500 will act as strong support zone & a break out below 130 levels will bring some calmness to equity markets.

Crude oil has to sustain below this level in order to bring inflation figures down. Tuesday is vote of confidence day. One has to be cautious over his or her trading style.

Overall, we are looking to face resistance at 13200,14500 & support is at 12310.

Angel Broking Technical Analysis report: -------

According to Angel Broking Technical Analysis report, on the upside Nifty may test 4050.

Markets bounced sharply from the support levels led by positive global cues and cool off in crude oil prices. After gap up opening, indices have closed near to the day’s high.

The coming trading session is expected to trade with positive bias, if indices manage to sustain above the immediate resistance of 13270/4000 levels.

Further, on the upside it may test 13520–4050 levels. On the downside, 12840/3880 levels may act as a support

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