UPDATES ON JULY 23 2008

JULY 23 WEDNESDAY

SHORT TERM TREND : BEARISH : TARGET RS 24860

LONG TERM TREND : BULLISH : TARGET RS 29000

S1 RS 25020, S2 RS 24860, S3 RS 24540

R1 RS 25340, R2 RS 25560, R3 RS 25710

PREFER SHORT AT RS 25340 TO 25360

STOP LOSS RS 25560

TARGET RS 24860

On the Nymex Tuesday, September silver fell 43 cents

to $18 an ounce .

The dollar got a lift Tuesday from a Federal Reserve official's

implication that U.S. interest rates should go higher, and

extended gains as crude-oil futures sank and Wall Street

recovered from early lows.

Gold for August delivery dropped $15.20 to end at

$948.50 an ounce on the New York Mercantile Exchange.

In the energy market, crude-oil futures fell sharply Tuesday,

changing hands at the lowest price in nearly seven weeks

and leading broad losses in energy commodities, as worries

eased that Tropical Storm Dolly will hit major oil and gas

facilities in the Gulf of Mexico.