Nifty daily chart update for 24/07/2009

world market daily update for 23/07/2009

BULLION

Gold posted an inside day with ah igher close on Wednesday as it consolidates some of Tuesday's decline as the dollar weakened. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.

Silver posted an inside day with ah igher close on Wednesday as the dollar slipped. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.

U.S. STOCK MARKET INDICES

DJI closed lower on Wednesday a stocks fell after a seven-day rally. The mid-range close sets the stage for a steady to weaker opening on Thursday. Stochastics and the RSI are underbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. SPI closed slightly lower on Wednesday as stocks fluctuated as a drop in oil prices led energy producers lower. The mid-range close sets the stage for a steady to weaker opening on Thursday. Stochastics and the RSI are underbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. NDI closed higher on Wednesday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near- term.

ENERGY

Crude Oil posed an inside day and closed lower on Wednesday due to profit taking as there was a smaller-than- forecast decline in inventories. The mid-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes below the 10-day moving average crossing would confirm that a short-term top has been posted.

Natural Gas closed higher on Wednesday as it consolidates above the 20-day moving average crossing. The mid-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off last week's low, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook.

Nifty daily chart update for 23/07/2009

world market daily update for 22/07/2009

BULLION

Gold closed higher on Monday as it extends last week's rally. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.

Silver closed higher on Monday and above the 20-day moving average crossing confirming that a short- term low has been posted. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends today's rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.

U.S. STOCK MARKET INDICES

DJI closed higher on Monday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain bullish signalling that sideways to higher prices are possible near-term. SPI closed higher on Monday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain bullish signalling that sideways to higher prices are possible near-term. NDI closed higher on Monday and above the 50% retracement level of last summer's decline crossing as it extends this month's rally. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are overbought but remain bullish signalling that sideways to higher prices are possible near-term.

ENERGY

Crude Oil closed higher on Monday and above the 20-day moving average crossing confirming that a short- term low has been posted. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.

Natural Gas closed slightly higher on Monday and above the 20-day moving average crossing signalling that a short-term low might be in or is near. Profit taking tempered early gains and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off last week's low, the reaction high crossing is the next upside target.