NIFTY TREND FOR 02-05-2012
Major Resistance Levels : 5289-5316-5352
Major Support Levels : 5195-5156-5132
Nifty couldn't get any direction. Flat opening can be expected next session. Hence, positions should be taken only after giving instructions on Tuesday.
Nifty ( Closing ) : 5248.15
Nifty gained 39 points today. IT stocks were the major gainers of the day. Continuous depreciation of Indian Rupees helps IT sector as they can enjoy more benefits from exports.
Oriental Bank of Commerce declared 20.6% decrease in the net profit for last quarter. Nevertheless, Vijaya Bank got 234% hike in their net profit in the same quarter at 180.99 ( 54.23 ).
Anyway, weakening of Indian Rupees is a serious matter nowadays. RBI & Government should take necessary steps to tackle this problem. Otherwise, it may make countless loss to Indian economy.
Inflation is the another major issue to make solution by government. It is a fact that the political equations bring problems to the government frequently. But, strong and hard reforms needed for growth of Indian economy as well as decreasing the budget deficits. Hopefully, Indian economy will be able to draw more growth by good tactics and their implementation.
GOOD LUCK.....
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