MARKET ENDED THE DAY ABOVE THE PSYCHOLOGICAL LEVEL OF 5550(NIFTY) MARK ON POSITIVE GLOBAL CUES FROM ASIA & EUROPE EVEN WHEN THE IMPORTANT CABINET MEETING WITH P.M. OVER THE SEVERAL ECONOMIC ISSUES WAS POSTPONED.
HOWEVER A MOST SIGNIFICANT DEVELOPMENT YESTERDAY WAS THAT THE FINANCE MINISTER PRANAB MUKHERJEE MET THE 30 DOMESTIC & FOREIGN INSTITUTIONAL INVESTORS FOR AN INTERACTION THAT WAS MODERATED BY ICICI BOSS, CHANDA KOCHAR. THE BACKGROUND FOR THIS MEETING TO BE CALLED ITSELF AN UNUSUAL ONE. IT IS PERHAPS BECAUSE OF OVERALL MOOD IN THE MARKET-THE INVESTOR SENTIMENT. IT WAS NOT PARTICULARLY RELATED TO THE ACTION THAT IS SPECIFIC TO THE STOCK MARKETS, BUT TO THE OVERALL TO THE MACRO CONTEXT. THE MACRO CLIMATE AT THIS POINT OF TIME IN THE ECONOMY ARE ISSUES AROUND INVESTORS SENTIMENT TAHT ARE RELATED TO CENTRAL GOVERNMENT, THE 2G INVESTIGATION, THE LACK OF REFORMS, THE LACK OF CLEARCUT DECISION MAKING, THE CONSTANT ATTACKS ON THE GOVERNMENT AND AN ADMINISTRATION THAT SEEMS TO BE WEAK, CONFUSED, AND CONSTANTLY BUFFETED BY POLITICAL FORCES THAT ONLY TWO YEARS BACK IT WAS HANDLING VERY WELL. FINANCE MINISTER EXPLAINED ON SEVERAL KEY ISSUES ABOUT FISCAL DEFICIT, SUBSIDY, GOVERNMENT BORROWING PROGRAMME, BUMPER 3G & BWA AUCTION FEES, HOPE OF CONSENSUS ON FDI IN RETAIL & INSURANCE AND SOME OTHER POINTS. FINANCE MINISTER ENDED BY SAYING THAT INSTITUTIONAL INVESTORS SHOULD REMAIN OPTIMISTIC ABOUT THE INDIA GROWTH STORY AND NOT SORT OF TAKE A NEGATIVE SIGNALS FROM ALL THAT IS HAPPENING.
NOW POSITIVE GLOBAL CUES , FALLING CRUDE PRICES DUE TO OPEC MEETING ON RAISING PRODUCTION SLOWDOWN IN OIL DEMAND, MIGHT BE POSITIVE FOR INDIA. NOW ALL EYES ARE ON 17TH JUNE WHEN RBI CREDIT POLICY MEET IS SUPPOSED TO BE, WHEREIN RATE HIKE TO CONTROL INFLATION COULD BE EXPECTED. TILL THEN MARKET IS SET TO RISE TO THE RESISTANCE LEVEL OF 5620-5650 OR EVEN TO 5700.
STOCK SPECIFIC MOVES TO CONTINUE. FOLLOWING STOCKS COULD BE CONSIDERED FOR TRADING 2-5 DAYS HOLD:
RAMKEY INFRA (297.50) SL 288 T-312
YES BANK(298.95) SL 288 T-308++
ORCHID(285.65) SL 278 T-298-304++
TIMKEN(193.25) SL 188 T-205+++
PRAKASH IND(72.15) SL 68 T-85+++
NAVNEET PUBL(65.5) SL 62 T-72++
ASTROLOGICALLY: PLANETARY POSTION SUGGEST THAT NIFTY MAY RISE TILL 15TH JUNE BUT THEREAFTER THERE WILL BE SHARP FALL AND NIFTY WILL TOUCH BACK 5400 IN THIS JUNE SERIES.
STRATEGY FOR OPTION TRADERS: ACCUMULATE PE5600, PE5500 & PE5400 ON EVERY RISE TILL 5700.THERE ARE 10% CHANCE THAT I MAY GO WRONG IN THE ABOVE PREDICTION.
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.
Disclaimer:
This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.
HOWEVER A MOST SIGNIFICANT DEVELOPMENT YESTERDAY WAS THAT THE FINANCE MINISTER PRANAB MUKHERJEE MET THE 30 DOMESTIC & FOREIGN INSTITUTIONAL INVESTORS FOR AN INTERACTION THAT WAS MODERATED BY ICICI BOSS, CHANDA KOCHAR. THE BACKGROUND FOR THIS MEETING TO BE CALLED ITSELF AN UNUSUAL ONE. IT IS PERHAPS BECAUSE OF OVERALL MOOD IN THE MARKET-THE INVESTOR SENTIMENT. IT WAS NOT PARTICULARLY RELATED TO THE ACTION THAT IS SPECIFIC TO THE STOCK MARKETS, BUT TO THE OVERALL TO THE MACRO CONTEXT. THE MACRO CLIMATE AT THIS POINT OF TIME IN THE ECONOMY ARE ISSUES AROUND INVESTORS SENTIMENT TAHT ARE RELATED TO CENTRAL GOVERNMENT, THE 2G INVESTIGATION, THE LACK OF REFORMS, THE LACK OF CLEARCUT DECISION MAKING, THE CONSTANT ATTACKS ON THE GOVERNMENT AND AN ADMINISTRATION THAT SEEMS TO BE WEAK, CONFUSED, AND CONSTANTLY BUFFETED BY POLITICAL FORCES THAT ONLY TWO YEARS BACK IT WAS HANDLING VERY WELL. FINANCE MINISTER EXPLAINED ON SEVERAL KEY ISSUES ABOUT FISCAL DEFICIT, SUBSIDY, GOVERNMENT BORROWING PROGRAMME, BUMPER 3G & BWA AUCTION FEES, HOPE OF CONSENSUS ON FDI IN RETAIL & INSURANCE AND SOME OTHER POINTS. FINANCE MINISTER ENDED BY SAYING THAT INSTITUTIONAL INVESTORS SHOULD REMAIN OPTIMISTIC ABOUT THE INDIA GROWTH STORY AND NOT SORT OF TAKE A NEGATIVE SIGNALS FROM ALL THAT IS HAPPENING.
NOW POSITIVE GLOBAL CUES , FALLING CRUDE PRICES DUE TO OPEC MEETING ON RAISING PRODUCTION SLOWDOWN IN OIL DEMAND, MIGHT BE POSITIVE FOR INDIA. NOW ALL EYES ARE ON 17TH JUNE WHEN RBI CREDIT POLICY MEET IS SUPPOSED TO BE, WHEREIN RATE HIKE TO CONTROL INFLATION COULD BE EXPECTED. TILL THEN MARKET IS SET TO RISE TO THE RESISTANCE LEVEL OF 5620-5650 OR EVEN TO 5700.
STOCK SPECIFIC MOVES TO CONTINUE. FOLLOWING STOCKS COULD BE CONSIDERED FOR TRADING 2-5 DAYS HOLD:
RAMKEY INFRA (297.50) SL 288 T-312
YES BANK(298.95) SL 288 T-308++
ORCHID(285.65) SL 278 T-298-304++
TIMKEN(193.25) SL 188 T-205+++
PRAKASH IND(72.15) SL 68 T-85+++
NAVNEET PUBL(65.5) SL 62 T-72++
ASTROLOGICALLY: PLANETARY POSTION SUGGEST THAT NIFTY MAY RISE TILL 15TH JUNE BUT THEREAFTER THERE WILL BE SHARP FALL AND NIFTY WILL TOUCH BACK 5400 IN THIS JUNE SERIES.
STRATEGY FOR OPTION TRADERS: ACCUMULATE PE5600, PE5500 & PE5400 ON EVERY RISE TILL 5700.THERE ARE 10% CHANCE THAT I MAY GO WRONG IN THE ABOVE PREDICTION.
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.
Disclaimer:
This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.
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