HENCE THE MARKET IS NOT YET STABLE, BOTH SHORT AND MIDDLE TERM INVESTORS SHOULD NOT INTERFERE IN THE MARKET ON MONDAY .
Market was moving on a flat note until around 2 pm and then, it shot up soon and nifty closed at 5325.8. There were negative and positive news for the market today.
CSO (Central Statistics Office) decided to decrease the estimation for GDP (Gross Domestic Product ) growth to 8.4% for 2011-2012. But ,earlier prediction was 8.5%. Besides , SIAM ( The Society of Indian Automobile Manufacturers ) opposes lower import duty on European cars. It may be decided next week along with India-Euro Free Trade Agreement.
On the other hand, Rupees got strength and it fueled the market for an upward rally.
In addition, US plans to ease visa processing including F-1 & H-1B visas. US embassy in India hopes 14% growth per year till 2020. It makes opportunities for job, business and money inflow .
While considering of INTRADAY TIP today, I am very glad to remind you about it. Tip was given to buy nifty futures above 5294. It achieved our second target at 5339 and showed high at 5357.50 ( close to our third target of 5362). The gain was around 62-63 points.
Though nifty gained around 56 points today, market couldn't get any direction . So, fresh positions wont be safe on Monday .
GOOD LUCK....
No comments:
Post a Comment