SELL NIFTY FUTURES BELOW 5270.
TARGETS : 5248-5214-5181
STOP LOSS : 5298
Friday, June 29, 2012
Thursday, June 28, 2012
NIFTY TODAY : EPISODE 132
NIFTY TREND FOR 29-06-2012
Major Resistance Levels : 5176-5191-5210
Major Support Levels : 5117-5095-5080
Short / Middle Term Target : 4880-4895.
Nifty may close in red tomorrow.
Nifty ( Closing ) : 5149.15
Ironically, Nifty closed on a flat not despite of high volatility. The worries regarding European leaders' summit. They are already divided according to their views and opinions. Anyway, European indices closed in negative zone. It means that they dont have an optimistic approach on their own market.
Indian Rupees depreciated against dollar. It was the another reason for fall in capital market.
RBI chairman, Mr. Pratip Chaudhary, declared that they cut interest rates by 50 basis points for exporters. It can evoke positive impact on Indian markets.
GOOD LUCK........
Major Resistance Levels : 5176-5191-5210
Major Support Levels : 5117-5095-5080
Short / Middle Term Target : 4880-4895.
Nifty may close in red tomorrow.
Nifty ( Closing ) : 5149.15
Ironically, Nifty closed on a flat not despite of high volatility. The worries regarding European leaders' summit. They are already divided according to their views and opinions. Anyway, European indices closed in negative zone. It means that they dont have an optimistic approach on their own market.
Indian Rupees depreciated against dollar. It was the another reason for fall in capital market.
RBI chairman, Mr. Pratip Chaudhary, declared that they cut interest rates by 50 basis points for exporters. It can evoke positive impact on Indian markets.
GOOD LUCK........
Wednesday, June 27, 2012
NIFTY TODAY : EPISODE 131
NIFTY TREND FOR 28-06-2012
Major Resistance Levels : 5173-5188-5203
Major Support Levels : 5115-5098-5081
Short / Middle Term Target : 4880-4915
Actually, nifty is at strong bearish zone. But, settlement of futures and options & European leaders summit may make impact tomorrow.
Again, nifty moved in a small range today ( 31 points ). The uncertain upcoming events decreased the velocity of Indian markets.
SEBI ( Stock Exchange Board of India ) increased FII FII investment limit in G-Sec up to $20 b ( increase was $5 b ) on 25th June. In this context, SEBI has decided to conduct a special auction for allocation of the additional limits to FIIs on 4th July. SEBI also informed to auction debt limits for FIIs on 20th of every month ( If it is a holiday, it will be held on next working day). Bidding would be held from 3.30pm to 5.30pm. FIIs can make their investments in Government securities, Corporate bonds and long term infrastructures corporate bonds.
Next, global markets curiously wait for European Leaders' Summit. The two days meeting will start tomorrow.
A. Markel accused top European union officials for proposing common euro zone debt before European controls in place on national budgets and economic policies. She told, " I fear that at the summit will be talk too much about all these ideas for joint liability and too little about improved controls & structural measures.
Spanish Prime Minister, Mariano R Rajoy said he would ask other European leaders to allow the bloc's bailout funds or the European Central Bank to stabilize financial markets. He also warned that Spain would not be able to finance itself in indefinitely with 10 year bond at the existing rate ( 7% ).
Divisions between European leaders are crucial now. It has been begun since Francis Surkozy elected as French President. The Franco-German axis is being questioned nowadays. If the leaders fails to make the summit successful, Global markets will trapped with excessive selling pressure.
GOOD LUCK........
Major Resistance Levels : 5173-5188-5203
Major Support Levels : 5115-5098-5081
Short / Middle Term Target : 4880-4915
Actually, nifty is at strong bearish zone. But, settlement of futures and options & European leaders summit may make impact tomorrow.
Again, nifty moved in a small range today ( 31 points ). The uncertain upcoming events decreased the velocity of Indian markets.
SEBI ( Stock Exchange Board of India ) increased FII FII investment limit in G-Sec up to $20 b ( increase was $5 b ) on 25th June. In this context, SEBI has decided to conduct a special auction for allocation of the additional limits to FIIs on 4th July. SEBI also informed to auction debt limits for FIIs on 20th of every month ( If it is a holiday, it will be held on next working day). Bidding would be held from 3.30pm to 5.30pm. FIIs can make their investments in Government securities, Corporate bonds and long term infrastructures corporate bonds.
Next, global markets curiously wait for European Leaders' Summit. The two days meeting will start tomorrow.
A. Markel accused top European union officials for proposing common euro zone debt before European controls in place on national budgets and economic policies. She told, " I fear that at the summit will be talk too much about all these ideas for joint liability and too little about improved controls & structural measures.
Spanish Prime Minister, Mariano R Rajoy said he would ask other European leaders to allow the bloc's bailout funds or the European Central Bank to stabilize financial markets. He also warned that Spain would not be able to finance itself in indefinitely with 10 year bond at the existing rate ( 7% ).
Divisions between European leaders are crucial now. It has been begun since Francis Surkozy elected as French President. The Franco-German axis is being questioned nowadays. If the leaders fails to make the summit successful, Global markets will trapped with excessive selling pressure.
GOOD LUCK........
NIFTY TODAY : EPISODE 130
NIFTY TREND FOR 27-06-2012
Major Resistance Levels : 5151-5169-5190
Major Support Levels : 5086-5063-5044
Short / Middle Term Target : 4880-4915
Nifty ( Closing ) : 5120
All negative factors are still existing in the market. Markets moved a small range yesterday. Indian Rupees couldn't stable so far. The only reason for avoiding fall is the closeness of futures and option settlement.
GOOD LUCK.......
Major Resistance Levels : 5151-5169-5190
Major Support Levels : 5086-5063-5044
Short / Middle Term Target : 4880-4915
Nifty ( Closing ) : 5120
All negative factors are still existing in the market. Markets moved a small range yesterday. Indian Rupees couldn't stable so far. The only reason for avoiding fall is the closeness of futures and option settlement.
GOOD LUCK.......
Monday, June 25, 2012
NIFTY TODAY : EPISODE 129
NIFTY TREND FOR 26-06-2012
Major Resistance Levels : 5185-5241-5274
Major Support Levels : 5069-5035-4977
Short / Middle Term Target : 4880-4915
Nifty is clearly at bearish zone. It may touch 5075 or below tomorrow .
Nifty ( Closing ) : 5114.65
RBI allowed increased FII investment limit of $20 billion in government sectors and overseas borrowing limit up to $10 billions. Government and RBI expected a warm welcome from the capital markets and consistency of Indian Rupees. Ironically, markets turned into negative zone and rupees depreciated again. Immediately after declaration, rupees moved from 56.56 to 56.90 against dollar. Market was curious about the policy and expected more. There was not any liberal decision regarding corporate sector. If RBI declares increased investment limit in corporate sector from abroad, market will welcome with great pleasure.
Next, the back bone of Indian economy is agricultural sector. In this context, lack of monsoon may affect Indian markets as well as economy worse.
World markets are being focused on upcoming European economic summit. If the leaders fail to implement good decisions, the crisis will move towards more dangerous zone. Anyway, even European markets dont have confidence regarding the issue. Steady fall of European markets reveal their levels of confidence.
Finally, Indian markets could show stability, though all the leading markets showed depression. But, it was not based on any specific fact. So, Indian markets may come down these days.
GOOD LUCK.....
Major Resistance Levels : 5185-5241-5274
Major Support Levels : 5069-5035-4977
Short / Middle Term Target : 4880-4915
Nifty is clearly at bearish zone. It may touch 5075 or below tomorrow .
Nifty ( Closing ) : 5114.65
RBI allowed increased FII investment limit of $20 billion in government sectors and overseas borrowing limit up to $10 billions. Government and RBI expected a warm welcome from the capital markets and consistency of Indian Rupees. Ironically, markets turned into negative zone and rupees depreciated again. Immediately after declaration, rupees moved from 56.56 to 56.90 against dollar. Market was curious about the policy and expected more. There was not any liberal decision regarding corporate sector. If RBI declares increased investment limit in corporate sector from abroad, market will welcome with great pleasure.
Next, the back bone of Indian economy is agricultural sector. In this context, lack of monsoon may affect Indian markets as well as economy worse.
World markets are being focused on upcoming European economic summit. If the leaders fail to implement good decisions, the crisis will move towards more dangerous zone. Anyway, even European markets dont have confidence regarding the issue. Steady fall of European markets reveal their levels of confidence.
Finally, Indian markets could show stability, though all the leading markets showed depression. But, it was not based on any specific fact. So, Indian markets may come down these days.
GOOD LUCK.....
Sunday, June 24, 2012
NIFTY TODAY : EPISODE 128
NIFTY TREND FOR 25-06-2012
Major Resistance Levels : 5183-5212-5251
Major Support Levels : 5091-5052-5022
Short / Middle Term Target : 4880-4915
Nifty is at an over bought position. Despite of all negative news, Indian markets stand stable. But, it is manipulated related to futures and option monthly settlement date is very close. It may collapse at any time.
Finance Minister, Mr. Pranab Mukherjee, declared that some crucial decisions for strengthening India's economy will be declared tomorrow. The steps will be implemented with the co - operation of RBI. He will resign the from the central ministry for the candidacy of presidential election.
Mr. Pranab Mukherjee had discussed with Finance Secretary, R. Gopalan & RBI Governor, D. Subba Rao on Friday.
Mr. Pranab also admitted that Indian economy faces pressure from inflation and depreciation of Indian Rupees. It is a fact that there are some depressions in Indian economy. Also he stated that he has some worries, but not desperate.
Ironically, Indian capital market traders dont worry regarding the negative financial impact of the country even as much as its Finance Ministry. Anyway, market may affect strong correction.
GOOD LUCK........
Major Resistance Levels : 5183-5212-5251
Major Support Levels : 5091-5052-5022
Short / Middle Term Target : 4880-4915
Nifty is at an over bought position. Despite of all negative news, Indian markets stand stable. But, it is manipulated related to futures and option monthly settlement date is very close. It may collapse at any time.
Finance Minister, Mr. Pranab Mukherjee, declared that some crucial decisions for strengthening India's economy will be declared tomorrow. The steps will be implemented with the co - operation of RBI. He will resign the from the central ministry for the candidacy of presidential election.
Mr. Pranab Mukherjee had discussed with Finance Secretary, R. Gopalan & RBI Governor, D. Subba Rao on Friday.
Mr. Pranab also admitted that Indian economy faces pressure from inflation and depreciation of Indian Rupees. It is a fact that there are some depressions in Indian economy. Also he stated that he has some worries, but not desperate.
Ironically, Indian capital market traders dont worry regarding the negative financial impact of the country even as much as its Finance Ministry. Anyway, market may affect strong correction.
GOOD LUCK........
Thursday, June 21, 2012
NIFTY TODAY : EPISODE 127
NIFTY TREND FOR 22-06-2012
Major Resistance Levels : 5204-5233-5283
Major Support Levels : 5102-5051-5021
Short / Middle Term Target : 4880-4915
Most probably, Nifty may touch 5021-5100 range tomorrow.
Nifty ( Closing ) : 5165
Indian markets were highly manipulated today. It moved upward, though all the facts were against for such a move except depression in crude oil price.
US markets were closed at a flat note last session. So many negative news came from US. Federal reserve cut growth of US economy. Inflation may be presented for three more years. Unemployment rate is expected above 8% till December 2012.
Almost all the Asian markets were 1% down as 'HSBC' reported a slow manufacturing growth from China.
Next, Indian rupees depreciated at a huge range and rupees touched at 56.57, all time low, today.
Ironically, Indian markets showed a steep upward move afternoon. Indian markets can never stand alone against global trend for long. They are highly manipulated today. It could make some bullish image. But, it may not be consistent. Market is at bearish zone only.
GOOD LUCK........
Major Resistance Levels : 5204-5233-5283
Major Support Levels : 5102-5051-5021
Short / Middle Term Target : 4880-4915
Most probably, Nifty may touch 5021-5100 range tomorrow.
Nifty ( Closing ) : 5165
Indian markets were highly manipulated today. It moved upward, though all the facts were against for such a move except depression in crude oil price.
US markets were closed at a flat note last session. So many negative news came from US. Federal reserve cut growth of US economy. Inflation may be presented for three more years. Unemployment rate is expected above 8% till December 2012.
Almost all the Asian markets were 1% down as 'HSBC' reported a slow manufacturing growth from China.
Next, Indian rupees depreciated at a huge range and rupees touched at 56.57, all time low, today.
Ironically, Indian markets showed a steep upward move afternoon. Indian markets can never stand alone against global trend for long. They are highly manipulated today. It could make some bullish image. But, it may not be consistent. Market is at bearish zone only.
GOOD LUCK........
Wednesday, June 20, 2012
NIFTY TODAY : EPISODE 126
NIFTY TREND FOR 21-06-2012
Major Resistance Levels : 5152-5175-5195
Major Support Levels : 5085-5065-5041
Short / Middle Term Target : 4880-4915
Market could make to complete a circle and it turned into bearish zone by closing. Most probably, a fall can be seen tomorrow ( sometimes it may be a heavy fall ).
Nifty ( Closing ) : 5120.55
Indian markets were traded in a small range of 41 points today. Although it was positive most of the trading hours, it couldn't take strength today.
FOMC ( Federal Open Market Committee ) meeting is being conducted in US now. This meet will present monthly report regarding credit and liquidity programs. The reports from the committee will lead global markets tomorrow. There is a good possibility for a bad data. If it is so, Indian markets too will fall tomorrow.
Monsoon have not strengthened yet. It shares the worries to agricultural sector of the soil. If it continue so, it will make strong negative impact on Indian markets.
GOOD LUCK........
Major Resistance Levels : 5152-5175-5195
Major Support Levels : 5085-5065-5041
Short / Middle Term Target : 4880-4915
Market could make to complete a circle and it turned into bearish zone by closing. Most probably, a fall can be seen tomorrow ( sometimes it may be a heavy fall ).
Nifty ( Closing ) : 5120.55
Indian markets were traded in a small range of 41 points today. Although it was positive most of the trading hours, it couldn't take strength today.
FOMC ( Federal Open Market Committee ) meeting is being conducted in US now. This meet will present monthly report regarding credit and liquidity programs. The reports from the committee will lead global markets tomorrow. There is a good possibility for a bad data. If it is so, Indian markets too will fall tomorrow.
Monsoon have not strengthened yet. It shares the worries to agricultural sector of the soil. If it continue so, it will make strong negative impact on Indian markets.
GOOD LUCK........
Tuesday, June 19, 2012
NIFTY TODAY : EPISODE 125
NIFTY TREND FOR 20-06-2012
Major Resistance Levels : 5141-5168-5209
Major Support Levels : 5049-5008-4980
Short / Middle Term Target : 4880-4915.
Nifty will be clearly bearish below 5084 tomorrow.
Nifty ( Closing ) : 5103.85
Oil and gas companies showed an upward sally today due to the news from G-20 meeting. The meet expressed that oil and gas prices could be deregulated and it will be helpful to curb subsidies. The comments regarding deregulation of oil prices helped Indian markets to close in green.
There was huge volume and turnover in index options. The volume of index options was 4671993 and turnover was 118554 Cr. It should be monitored so closely.
Rupees couldn't be stable today. It was above 56 against dollars in majority of trading period today. It makes negative impact on Indian markets.
GOOD LUCK.......
Major Resistance Levels : 5141-5168-5209
Major Support Levels : 5049-5008-4980
Short / Middle Term Target : 4880-4915.
Nifty will be clearly bearish below 5084 tomorrow.
Nifty ( Closing ) : 5103.85
Oil and gas companies showed an upward sally today due to the news from G-20 meeting. The meet expressed that oil and gas prices could be deregulated and it will be helpful to curb subsidies. The comments regarding deregulation of oil prices helped Indian markets to close in green.
There was huge volume and turnover in index options. The volume of index options was 4671993 and turnover was 118554 Cr. It should be monitored so closely.
Rupees couldn't be stable today. It was above 56 against dollars in majority of trading period today. It makes negative impact on Indian markets.
GOOD LUCK.......
Monday, June 18, 2012
NIFTY TODAY : EPISODE 124
NIFTY TREND FOR 19-06-2012
Major Resistance Levels : 5167-5260-5317
Major Support Levels : 4993-4936-4842
Short / Middle Term Target : 4880-4895
Nifty is clearly bearish below 5100. Most probably, Nifty may close in red tomorrow.
Nifty ( Closing ) : 5064.25
Nifty opened with a positive gap due to international cues. Pro-reform parties won the polls in Greece. In this context, Greece may not leave European union. Thus, Euro could escape from destruction for the present. It could make positive impact on world markets.
But, after 11 O' clock, market was under strong selling pressure. RBI was not ready for further CRR and rate cuts.
Actually, it was not easy to cut rates for RBI as inflation is on increase. Standard & Poor, rating agency gave warning to India last week. Another leading rating agency, Fitch, warns India that India's sovereign credit rating may be slow growth and increased inflation.
Moreover, S & P indicated the political inconsistency of the country for taking strong policy formation. Kumari Mamatha Banarji, leader of Thrinamool Congress which is a second party in ruling alliance, is not on good terms with the leading party, Congress regarding the presidential election. If she withdraws his party from UPA , the central government may get trouble.
All negative factors may lead nifty towards our short / middle term target, 4880-4915 level.
GOOD LUCK........
Major Resistance Levels : 5167-5260-5317
Major Support Levels : 4993-4936-4842
Short / Middle Term Target : 4880-4895
Nifty is clearly bearish below 5100. Most probably, Nifty may close in red tomorrow.
Nifty ( Closing ) : 5064.25
Nifty opened with a positive gap due to international cues. Pro-reform parties won the polls in Greece. In this context, Greece may not leave European union. Thus, Euro could escape from destruction for the present. It could make positive impact on world markets.
But, after 11 O' clock, market was under strong selling pressure. RBI was not ready for further CRR and rate cuts.
Actually, it was not easy to cut rates for RBI as inflation is on increase. Standard & Poor, rating agency gave warning to India last week. Another leading rating agency, Fitch, warns India that India's sovereign credit rating may be slow growth and increased inflation.
Moreover, S & P indicated the political inconsistency of the country for taking strong policy formation. Kumari Mamatha Banarji, leader of Thrinamool Congress which is a second party in ruling alliance, is not on good terms with the leading party, Congress regarding the presidential election. If she withdraws his party from UPA , the central government may get trouble.
All negative factors may lead nifty towards our short / middle term target, 4880-4915 level.
GOOD LUCK........
Sunday, June 17, 2012
NIFTY TODAY : EPISODE 0123
NIFTY TREND FOR 18-06-2012
Major Resistance Levels : 5177-5208-5257
Major Support Levels : 5075-5024-4995
Short / Middle Term Target : 4880-4915
Market is bullish below 5008. But, RBI's rate cut decision may affect Indian markets tomorrow.
Nifty ( Closing ) : 5139.05
Indian markets wait for rate cut of RBI tomorrow. Government also expect rate cut. It is needed 100 bps ( 1% ) rate cut for better industrial growth. But, RBI may have some worries regarding the increasing inflation rates as well as depreciation of Indian currency. Anyway, market may affect negative impact , if rate cut less than 50 bps ( .5% ).
Greece election result and government policy may affect global markets. If Greece tries to leave European union, world markets will face strong depression in trades.
Leading ruling party, INC decided to hold firmly Mr. Pranab Mukherjee as the presidential candidate in spite of the objection of Kumari Mamatha Banarjee who is the leader of Thrinamool Congress ( Second party in ruling alliance with the strength of parliament members. S & P stated the inconsistency of government for decision making during political pressure. In this context, government has to show its strength in planning and implementation. But, Kumari. Mamatha will make so many troubles for government and it may affect Indian markets.
GOOD LUCK........
Major Resistance Levels : 5177-5208-5257
Major Support Levels : 5075-5024-4995
Short / Middle Term Target : 4880-4915
Market is bullish below 5008. But, RBI's rate cut decision may affect Indian markets tomorrow.
Nifty ( Closing ) : 5139.05
Indian markets wait for rate cut of RBI tomorrow. Government also expect rate cut. It is needed 100 bps ( 1% ) rate cut for better industrial growth. But, RBI may have some worries regarding the increasing inflation rates as well as depreciation of Indian currency. Anyway, market may affect negative impact , if rate cut less than 50 bps ( .5% ).
Greece election result and government policy may affect global markets. If Greece tries to leave European union, world markets will face strong depression in trades.
Leading ruling party, INC decided to hold firmly Mr. Pranab Mukherjee as the presidential candidate in spite of the objection of Kumari Mamatha Banarjee who is the leader of Thrinamool Congress ( Second party in ruling alliance with the strength of parliament members. S & P stated the inconsistency of government for decision making during political pressure. In this context, government has to show its strength in planning and implementation. But, Kumari. Mamatha will make so many troubles for government and it may affect Indian markets.
GOOD LUCK........
Thursday, June 14, 2012
NIFTY TODAY : EPISODE 122
NIFTY TREND FOR 15-06-2012
Major Resistance Levels : 5119-5174-5204
Major Support Levels : 5011-4979-4926
Short / Middle Term Target : 4880-4915
Increased WPI inflation data pulled Indian markets downwards. Nifty reached a strong bearish zone and it may touch 4880-4915 range on short / middle term basis.
WPI inflation marked at 7.55% for the month of May. It was 7.23% previous month. It affected Indian markets badly. Banking stocks were the major losers of the day.
Apart from that, European crisis caused for fall in global markets. Moody downgraded credit ratings of Spain and Cyprus. Greece election also makes global markets tensed.
GOOD LUCK......
Major Resistance Levels : 5119-5174-5204
Major Support Levels : 5011-4979-4926
Short / Middle Term Target : 4880-4915
Increased WPI inflation data pulled Indian markets downwards. Nifty reached a strong bearish zone and it may touch 4880-4915 range on short / middle term basis.
WPI inflation marked at 7.55% for the month of May. It was 7.23% previous month. It affected Indian markets badly. Banking stocks were the major losers of the day.
Apart from that, European crisis caused for fall in global markets. Moody downgraded credit ratings of Spain and Cyprus. Greece election also makes global markets tensed.
GOOD LUCK......
Wednesday, June 13, 2012
NIFTY TODAY : EPISODE 121
NIFTY TREND FOR 14-06-2012
Major Resistance Levels : 5158-5185-5210
Major Support Levels : 5080-5054-5027.
In normal course, Nifty may close a flat negative note tomorrow. But, the declaration of inflation figures may affect tomorrow. If it doesn't affect, flat negative closing will be seen.
Nifty ( Closing ) : 5121.45
Market closed in a flat note today. Indian markets are waiting for so many events such as inflation figures, tax numbers, interest rates by RBI and so on this week. So, traders showed reluctance to owe positions up to some extends. It resulted irregular and trivial movements in Indian market.
Apart from above mentioned internal events, markets are watching carefully the developments happening abroad especially in Europe. Global markets are so curious regarding Greece election and the policy of new government. If Greece leaves European union, it will make too negative impacts in world markets.
GOOD LUCK......
Major Resistance Levels : 5158-5185-5210
Major Support Levels : 5080-5054-5027.
In normal course, Nifty may close a flat negative note tomorrow. But, the declaration of inflation figures may affect tomorrow. If it doesn't affect, flat negative closing will be seen.
Nifty ( Closing ) : 5121.45
Market closed in a flat note today. Indian markets are waiting for so many events such as inflation figures, tax numbers, interest rates by RBI and so on this week. So, traders showed reluctance to owe positions up to some extends. It resulted irregular and trivial movements in Indian market.
Apart from above mentioned internal events, markets are watching carefully the developments happening abroad especially in Europe. Global markets are so curious regarding Greece election and the policy of new government. If Greece leaves European union, it will make too negative impacts in world markets.
GOOD LUCK......
Tuesday, June 12, 2012
NIFTY TODAY : EPISODE 120
NIFTY TREND FOR 13-06-2012
Major Resistance Levels : 5173-5215-5286
Major Support Levels : 5028-4956-4911
Nifty is bullish below 5085. Nevertheless, a negative closing can be expected for nifty tomorrow.
The Index of Industrial Production ( IIP ) growth market at 0.1% for the month of April. Although it was lower than expected, it was much better than the data of previous month ( -3.5% ). The low growth rate and possibility for downgrading the rating by S & P may compel the RBI for cutting the rates. RBI meeting will be conducted on 18th June. Rate cut of 100 bps ( 1% ) is expected now.
If RBI doesn't cut rates, Indian economy will have to suffer much more.
S & P expressed worries regarding the roadblock of decision making due to uncertainty in political aspects, through their journal yesterday. In this context, government has to prove that political issues wont interfere in decision making. If government fails to do so, it will make some ill effects to Indian economy as well as markets. Hope it can be tackled through good steps.
GOOD LUCK........
Major Resistance Levels : 5173-5215-5286
Major Support Levels : 5028-4956-4911
Nifty is bullish below 5085. Nevertheless, a negative closing can be expected for nifty tomorrow.
The Index of Industrial Production ( IIP ) growth market at 0.1% for the month of April. Although it was lower than expected, it was much better than the data of previous month ( -3.5% ). The low growth rate and possibility for downgrading the rating by S & P may compel the RBI for cutting the rates. RBI meeting will be conducted on 18th June. Rate cut of 100 bps ( 1% ) is expected now.
If RBI doesn't cut rates, Indian economy will have to suffer much more.
S & P expressed worries regarding the roadblock of decision making due to uncertainty in political aspects, through their journal yesterday. In this context, government has to prove that political issues wont interfere in decision making. If government fails to do so, it will make some ill effects to Indian economy as well as markets. Hope it can be tackled through good steps.
GOOD LUCK........
Monday, June 11, 2012
NIFTY TODAY : EPISODE 119
NIFTY TREND FOR 12-06-2012
Major Resistance Levels : 5120-5171-5203
Major Support Levels : 5006-4974-4921
Nifty will be bearish below 5074 tomorrow.
Indian markets started trade with a good positive gap and it could keep the market positively till last hours of trade. Global markets were up. European markets opened with 1.5-2% gain today. It helped Nifty to remain strong. Besides, Indian rupees also showed strength till noon.
By afternoon, rating agency, Standard & Poor's released a report with a heading " Will India be the first BRIC fallen angel ?". They explained the reasons are economic slowdown and political roadblocks for policy making ( It was mentioned early through our blog early ). India's sovereigns rating is BBB-ve. In April, S & P lowered our rating from stable to negative.
On the other hand, Indian Finance Minister assured that a good recovery in GDP growth can be seen in next fiscal. Moreover, global markets are in a good mood.
Anyway, Nifty touched our short / middle term target, 5100 level today.
GOOD LUCK......
Major Resistance Levels : 5120-5171-5203
Major Support Levels : 5006-4974-4921
Nifty will be bearish below 5074 tomorrow.
Indian markets started trade with a good positive gap and it could keep the market positively till last hours of trade. Global markets were up. European markets opened with 1.5-2% gain today. It helped Nifty to remain strong. Besides, Indian rupees also showed strength till noon.
By afternoon, rating agency, Standard & Poor's released a report with a heading " Will India be the first BRIC fallen angel ?". They explained the reasons are economic slowdown and political roadblocks for policy making ( It was mentioned early through our blog early ). India's sovereigns rating is BBB-ve. In April, S & P lowered our rating from stable to negative.
On the other hand, Indian Finance Minister assured that a good recovery in GDP growth can be seen in next fiscal. Moreover, global markets are in a good mood.
Anyway, Nifty touched our short / middle term target, 5100 level today.
GOOD LUCK......
Saturday, June 9, 2012
NIFTY TODAY : EPISODE 118
NIFTY TREND FOR 11/06/2012
Major Resistance Levels : 5117-5153-5207
Major Support Levels : 4998-4944-4907
Nifty ( Closing ) : 5068.35
Nifty closed at 5068 with slight gain of 19 points last day. Nifty was in red till last hour of trade. RBI Deputy Governor, Mr. K.C. Chakrabarthy, stated that "if inflation comes down, definitely monetary policy rate will come down". It fueled the market to move upward. Central Government stated that Diesel and L.P.G. price hike will not be considered soon. Petroleum price hike also may withdraw due to the international depression in crude oil price. These factors will help to decrease inflation. Besides, better expectation about monsoon also can be pondered. Then, RBI may cut rates. These factors helped the Indian markets to close in green.
Moreover, possibilities for strengthening of Indian rupees also was useful for Indian markets to close with gains.
Nifty is very close to our short / middle term target 5100 now. Greece election may be affected Indian markets coming market sessions.
GOOD LUCK..................................
Major Resistance Levels : 5117-5153-5207
Major Support Levels : 4998-4944-4907
Nifty ( Closing ) : 5068.35
Nifty closed at 5068 with slight gain of 19 points last day. Nifty was in red till last hour of trade. RBI Deputy Governor, Mr. K.C. Chakrabarthy, stated that "if inflation comes down, definitely monetary policy rate will come down". It fueled the market to move upward. Central Government stated that Diesel and L.P.G. price hike will not be considered soon. Petroleum price hike also may withdraw due to the international depression in crude oil price. These factors will help to decrease inflation. Besides, better expectation about monsoon also can be pondered. Then, RBI may cut rates. These factors helped the Indian markets to close in green.
Moreover, possibilities for strengthening of Indian rupees also was useful for Indian markets to close with gains.
Nifty is very close to our short / middle term target 5100 now. Greece election may be affected Indian markets coming market sessions.
GOOD LUCK..................................
Thursday, June 7, 2012
NIFTY TODAY : EPISODE 117
I couldn't publish some episodes previous week due to some unavoidable personal matters. Sorry for the inconvenience.
NIFTY TREND FOR 08-06-2012
Major Resistance Levels : 5084-5106-5137
Major Support Levels : 5003-4971-4948
Nifty ( Closing ) : 5049.65
Nifty remained in green whole over the market hours. Global markets were up last session. US markets were up more than 2%, Asian markets were up by .5-1% and European markets drew an increase in their indices. It helped Indian markets to close with around 1% gain.
Prime Minister, Mr. Manmohan Singh expressed his feeling yesterday that infrastructure sector can balance the economic growth of the nation. It helped for better investments in infrastructure companies including RELINFRA. PM's statement could make positive impact in Indian markets.
Moreover, Indian Rupees showed strength today.
GOOD LUCK.......
NIFTY TREND FOR 08-06-2012
Major Resistance Levels : 5084-5106-5137
Major Support Levels : 5003-4971-4948
Nifty ( Closing ) : 5049.65
Nifty remained in green whole over the market hours. Global markets were up last session. US markets were up more than 2%, Asian markets were up by .5-1% and European markets drew an increase in their indices. It helped Indian markets to close with around 1% gain.
Prime Minister, Mr. Manmohan Singh expressed his feeling yesterday that infrastructure sector can balance the economic growth of the nation. It helped for better investments in infrastructure companies including RELINFRA. PM's statement could make positive impact in Indian markets.
Moreover, Indian Rupees showed strength today.
GOOD LUCK.......
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