while the surprise loss of U.S. jobs in August was ``not encouraging,'' it doesn't on its own justify lowering interest rates. We want to be careful not to overweight one piece of information.
The other district bank heads are speaking with business contacts around the country to gauge the economy's response to the rout in credit markets and the deepening housing slump. There's a lot of conflicting data out there that's going to be tricky to get through.''
The comments indicate a preference to wait until policy makers meet on Sept. 18 to sift through data and decide on rates. By contrast, some investors and economists said the drop in payrolls, the first in four years, advances the case for a reduction in borrowing costs even before the scheduled meeting.
The other district bank heads are speaking with business contacts around the country to gauge the economy's response to the rout in credit markets and the deepening housing slump. There's a lot of conflicting data out there that's going to be tricky to get through.''
The comments indicate a preference to wait until policy makers meet on Sept. 18 to sift through data and decide on rates. By contrast, some investors and economists said the drop in payrolls, the first in four years, advances the case for a reduction in borrowing costs even before the scheduled meeting.
I see a downside over the next three months where Nifty will range between 3750-4750. If we can sustain a couple of days above 4,500, we should get upto 4,640-4,650 and then probably again get into a bit of a range, while the market waits for a desired result on September 18. If the result is favourable, you would probably see an immediate breakout to new highs.
Weak Global Cues , Volatile market , Market will Nervous on Monday ,Great Chance of down.
Nifty has a Support at 4450 and second Support at 4405.Nifty has a resistance at 4552 and 4592.Market will Highly Volatile tommorow.
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