Market Prediction ( 06-09-2007 )

U.S. stocks retreated on speculation higher borrowing costs spurred by credit-market losses will hurt earnings and economic growth. Citigroup Inc., the largest U.S. bank, and JPMorgan Chase & Co., the third biggest, led financial shares lower. Lehman Brothers Holdings Inc. and Morgan Stanley declined after Citi Investment Research said the securities firms' earnings will be reduced because investors are taking fewer risks. Mattel Inc., the largest toymaker, dropped following its third recall of China-made products in five weeks.


Weak Global Que's,Indian market on Thursday may also going to dump.Unless and until one sees spot Nifty going below 4,440 it will be termed as a consolidation and it’s more of a range bound movement rather than any clear weakness.We get fresh momentum which takes it beyond 4,530, then 4,568 to about 4,590 should be there. Clear weakness will come only if you go blow 4,370 now. And unless and until that happens, the intermediate up trend remains intact. Between 4,400 and 4,530 it’s a range bound market.

Market Prediction : Market have Support at 4440 if it will break this level it will try to touch 4370 ( second Support ) .If market break 4370 level then there is a great chance of weakness.Market is range bound between 4440 and 4530.