UPDATES ON JULY 29 2008

JULY 29 TUESDAY

SHORT TERM TREND : BEARISH : TARGET RS 23860

LONG TERM TREND : BULLISH: TARGET RS 29000

S1 RS 24360 , S2 RS 24120 , S3 RS 23880

R1 RS 24675 , R2 RS 24885 , R3 RS 25040

PREFER SHORT AT RS 24680 TO 24700

STOP LOSS RS 24890

TARGET RS 24360

Silver added 0.5 percent to $17.605 an ounce.

Gold rose in Asia as increased energy costs and declining

equity markets from the U.S. to Asia boosted demand for

the precious metal as a haven asset.

Crude oil gained for the second day in Asia after Royal Dutch

Shell Plc reduced Nigerian production because of an attack

on a pipeline by militants.

Crude oil in New York rose 0.5 percent to $125.40 a barrel at

9:54 a.m. in Singapore, 2.4 percent higher than a low of

$122.50 on July 25.

Asian stocks fell after the International Monetary Fund said

there is no end in sight to the U.S. housing recession and as

higher energy costs erode earnings.