Our economy is doing well and we will do well in our markets…..
The statement is good for India, with the IIP numbers are growing above 13.8%, especially with the support of capital goods but not the leading economies like US and Japan. So the pressure on our markets will appear, as an integral part of the market movement.
Last week the Tata Steel touched a high of 596.65 and Bharti touched 357.95(we expected as.. likely to touch 592-98 & above Rs 365/-level).
The Nifty is taking every positive sign to push to new highs. The charts are very supporting to it above 5470 level. As of now it looks like Nifty may touch 5860 level but the journey may not be in single direction but definitely upwards till it reaches the goal. As of now I see a resistance at 5687-93 level.
The RBI likely to consider monetary tightening measures by increasing the CRR by 25 basis points to reduce the supply lead inflation. The second quarter industrial out put is on strong footing but the market then ignored news like increase in the gross Non-performing Assets of the banks like SBI leading the table followed by IDBI could trigger a negative blow.
The market participants are interested take long positions as the industry cycles participating in the up move is increasing. This is attracting more retail investors to take call for extra gains in short period.The nature of retail behavior is common and is a replica of the falls recorded as history yet to take place. This can be identified by the FLOOD of retail orders and SKY HIGH rocket speed price rises in the UNKNOWN/DESTITUTE stocks.
Saturday, September 11, 2010
HAPPY GANESH CHATURTHI...
HEARTFELT, HEARTFUL WISHES..."HAPPY GANESH CHATURTHI".
LORD GANESH BLESS YOU "WEALTH, HEALTH, PROSPERITY AND PEACE"-EVERY DAY AND YEARS TO COME.
MARKETS ARE INSTRUMENTS TO MINT MONEY.
MARKETS OSCILLATE, FLUCTUATE AND MOVE IN A DIRECTION. SO MAKE MONEY BEING IN RIGHT DIRECTION.
GOODLUCK
NAGESWARA RAO & FAMILY
LORD GANESH BLESS YOU "WEALTH, HEALTH, PROSPERITY AND PEACE"-EVERY DAY AND YEARS TO COME.
MARKETS ARE INSTRUMENTS TO MINT MONEY.
MARKETS OSCILLATE, FLUCTUATE AND MOVE IN A DIRECTION. SO MAKE MONEY BEING IN RIGHT DIRECTION.
GOODLUCK
NAGESWARA RAO & FAMILY
Sunday, September 05, 2010
Prop-up support for now...???
The global support is the prop-up support right now available to our markets. The US rally that bounced with vengeance with the S&P touched 1050 level. The Nifty here did the same when it touched the 5350 level but the ferocity is a question/debatable.
The Nifty has to trade above 5495 level but has resistance at 5530 level. The bottom support at 5450 level is well placed to support the Bulls to take a call. As of now there is no threat to Nifty falling steep as the position built over since July 9the above 5350 level is huge and the Bulls will buy even more as the economy is doing well and the favoured the Bull to plunge.
The restructuring of debt and raising more loans $5.4 billion for Corus at cheaper rates can increase the profit margin for Tata steel as the world wide auto sales are increasing and the consumption to increase. The same is being built in the price as the Tata steel stock is looking technically good above 513 levels, likely to touch 592-98 level even the Nifty fall for some time. Now the ferrous metal group will demand/lobby for a price hike again than the recent one. The industry suffered looses to cap some extent by maintaining the price for the sake of high rising inflation.
NSE planning to go for Mobile trading from October and our 3G services though not cheap but will increase the participants to enable. This will open a new era of financial transactions over mobile be it banking, trade or entertainment through games and movies. The markets will push the leaders like Bharti above Rs 365/-level and the RCOM above Rs 200/- level. The fertilizer stocks will see good demand in future apart from the Pharma as the environment is changing.
The Nifty has to trade above 5495 level but has resistance at 5530 level. The bottom support at 5450 level is well placed to support the Bulls to take a call. As of now there is no threat to Nifty falling steep as the position built over since July 9the above 5350 level is huge and the Bulls will buy even more as the economy is doing well and the favoured the Bull to plunge.
The restructuring of debt and raising more loans $5.4 billion for Corus at cheaper rates can increase the profit margin for Tata steel as the world wide auto sales are increasing and the consumption to increase. The same is being built in the price as the Tata steel stock is looking technically good above 513 levels, likely to touch 592-98 level even the Nifty fall for some time. Now the ferrous metal group will demand/lobby for a price hike again than the recent one. The industry suffered looses to cap some extent by maintaining the price for the sake of high rising inflation.
NSE planning to go for Mobile trading from October and our 3G services though not cheap but will increase the participants to enable. This will open a new era of financial transactions over mobile be it banking, trade or entertainment through games and movies. The markets will push the leaders like Bharti above Rs 365/-level and the RCOM above Rs 200/- level. The fertilizer stocks will see good demand in future apart from the Pharma as the environment is changing.
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