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Indian Stock Market & World Stock Market Review By Nirmal Bang

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 The markets maintained their upward movement for the third consecutive day on the back of strong buying witnessed in the Index heavyweight like Reliance Ind & State Bank of India which has been consolidating for quite some time.


Global Asian cues were also positive today. Hang Seng was up 2.14% and Shanghai rose 1.71% and Taiwan Weighted gained 1.2%. The Sensex closed up 107 points to
16,123 and the Nifty rose 22 points to 4,805 after hitting an intraday high of 4842.

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US stocks climb on oil, gold hikes

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New York - Major Wall Street indices gained Tuesday as price increases for oil and metals including gold fuelled a rally in commodity and energy shares.


The dollar hit a 2009 low against the euro, helping the commodity price hikes. The US currency dropped to 69.03 euro cents and 92.31 Japanese yen.


The price of crude oil climbed 4.5 per cent to 71.1 dollars per barrel, and gold futures climbed above 1,000 dollars per ounce. Copper jumped more than 3 per cent.


Shares of Alcoa, Chevron and Exxon Mobil climbed more than 2 per cent.

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Indian Stock Market & World Stock Market Review By Nirmal Bang

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The Sensex closed higher for the fourth consecutive day on the back of sharp upside in Reliance Industries, which gained 4.5%. Metal stocks continued their run up today as well and banking stocks were the other gainers.


However, selling in telecom, realty, power, FMCG, auto, oil marketing, capital goods and select technology stocks limited the gains. Asian markets ended mixed. Shanghai and Jakarta gained 0.5% while Hang Seng, Nikkei, Straits Times, Kospi and Taiwan fell 0.4-1%.


In the metal space, Hindalco gained 4.14%. NALCO, Sterlite Industries and Tata Steel were up 0.8-

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USD / JPY Technical Forex Analysis for Forex Traders

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Finally, we have tested the most important support level in the current price area: 91.73-91.76, which is the small support area that holds within the lows of July 8th, 10th, and 13th. Price hardly held above it after reaching 91.60. And we think that breaking it would have enough influence to "finally" accelerate the downtrend, and would be followed by a move down to 90.90 or even 89.69. As for attempts to go higher, they would not mean anything without a break of Fibonacci 61.8% resistance at 92.20, which stopped the rise twice, during the American & Asian sessions. If this resistance is broken, we think the USDJPY will target areas above 93 such as 93.42, and if this one is also broken, the next stop would probably be 94.16.
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