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........
No comments:
Post a Comment