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Guar support at 79.40 |
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Spot guar bounced back and traded higher at major markets across Rajasthan Tuesday following weakness returned to monsoon in the region. Stockists in Rajasthan and Gujarat enhanced buying expecting further rise in prices in the days to come. Now support for the guar is seen at 2107 and below could see a test of 2081. Resistance is now likely to be seen at 2165, a move above could see prices testing 2197
Trading Ideas:
TRADING RANGE IS 2081-2197.
BUY GUAR @ 2120-2130 SL 2086 TGT 2154-2170-2190-2240. NCDEX
WEATHER CONDITION IS STABLE NOW CLOUDY AND RAINY
IMP SUPPORT IS 79.40 LEVEL
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| Technical Calls |
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Commodities recap - evening of 5th Sept, 2008 |
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Bullions remained subdued in morning session although they eased little and slides below $800, drop in crude pressurized gold. Precious metal stayed under pressure on the dollar's strength and weaker oil prices. |
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Flashback-Energy-5th Sept, 2008 |
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| FOREX Reports |
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Rupee closes in the red |
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Indian rupee ended trading Friday Rupee at 44.65/66 per dollar, from the previous close of 44.35/36, as losses in the local share market raised concerns about further foreign fund outflows.
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Rupee nosedives to 21 month low |
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Indian rupee nosedived to its lowest in 21 months on Friday as a stock market slide triggered concerns of further foreign fund outflows. |
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Japanese foreign reserves decline in August |
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Asia’s largest economy, Japan’s foreign exchange reserves declined for the first time in three months at the end of August, the Japanese Finance Ministry said.
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