MARKET IS NOT GOOD FOR HAVING ANY SHORT / MIDDLE TERM POSITIONS TOMORROW .
After many aimless movements , nifty closed at 5269.90. The verdict by Apex court, to cancel 122 spectrum licenses, made the market unstable today . It evoked a mixed response among telecom companies too. The affected companies were RCOM & UNITECH as they are promoters of the telecom company, UNINOR. They lost 3.54 and 7.04 percentages respectively.
But, some telecom companies like BHARTIARTL and IDEA CELLULAR closed in green. The former , BHARTIARTL gained 6.88% and placed highest gainer in NSE.
Next, an significant upcoming event is that Finance Ministry will meet stock exchange officials on February 7. It has some importance as the matter is discussing between all media and business men about allowing foreign individual investors directly in Indian Capital Market. Besides , Securities Transaction Tax may be discussed in this context when General Budget for 2012-2013 is very near.
GOOD LUCK....
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