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Thursday, July 24, 2008

UPDATES ON JULY 24 2008

JULY 24 THURSDAY

SHORT TERM TREND : SIDEWAYS : TARGET RS 78 TO 83

LONG TERM TREND : BEARISH : TARGET RS 68

S1 RS 79.50, S2 RS 78, S3 RS 76.60

R1 RS 81.80, R2 RS 83.40, R3 RS 85

MARKET IS EXPECTED TO MOVE SIDEWAYS.

Zinc rose the most in more than a week.

A stronger U.S. currency discourages holders of other

monies to buy dollar-denominated commodities, which

become more expensive to them.

Zinc rose as much as $70, or 3.8 percent, to $1,915 a ton,

the biggest intraday gain since July 11.

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