The RU-"PEE" hit a Record Low of 55 Vs Dollar. But Still No Action from the Govt. Raising US Bond Yield,Falling Euro, Adverse Demand from Corporates and Oil Marketing companies also a Reason for the Sharp Fall in the So Called Rupee. So what the UPA Govt doing ??? What the Finance Minister & "Presidential Candidate" Mr. Pranab doing???
As the UPA has completed 3 Years in Power what they have did So Far????
What the People got from the UPA govt so far???
Telecom Scam / Common Wealth Scam / Adarsh Scam / Military Scam ..
So whats the Result:-
1)Standard & Poor's cut India's credit rating outlook to negative from stable reflecting the toll that hefty fiscal and current account deficits and political paralysis
2)Data released by the Central Statistics Office showed annual inflation rate based on all India general CPI (combined) for April on point-to-point basis (April 2012 over April 2011) at 10.36% as compared to 9.38% for March.
3)The index of industrial production or IIP fell 3.5 per cent against a forecast of 1.5 per cent growth. So whats does it Means ? Is this Just a Number or more than that ? - Slow Growth / Weak Manufacturing & Job Growth / RBI will not Cut Rates Rapidly / Poor or Bearish Stock Market
4)Several recent policy decisions by India have caused "significant concern" and "dampened sentiment" about its investment climate, US Ambassador to India, Nancy J Powell said
5)Morgan Stanley cuts India's 2012 economic growth forecast to 6.3% from prior 6.9%; 2013 forecast to 6.8% from 7.5%.
6)India's economic growth has slumped to a near three-year low and its current account deficit is the highest since 1980, a gap that is difficult to control when the rupee is at a record low.
7) Poor FDI and FII inflow
But what is the Answer for all these form our Prime Minister - See Below :-
Prime Minister Manmohan Singh's Congress Party blames unreliable allies in his coalition government for blocking major reforms aimed at opening up the economy to much-needed foreign investment and tackling obstacles in the way of growth, from creaking infrastructure to endemic corruption.
Hence forth whats Going to Happen to Our Equity Market - "Sell - Sell - Sell" Only
Weekly Nifty Trading Below 200 dma, Clear Sell Signal on Weekly MACD - Shows that Nifty in the Grip of Bear. Last Friday Nifty took Support at 4788 show that some Reversal may happen due to Over sold region, a Relief rally may be temporary in Nature - Fall may resume at any time. If the Top line of the Channels gets Broken - then Once agian the fall may start any time Badly.
On Hourly Chart - Nifty has Broken out of the Falling Wedge - Possibility of Nifty may touch 4950 - 5000 and 5130 as I wrote on Friday. Any Upmove from here Must be Corrective in Nature Only.
Lets have a Closed Look at Nifty 5 Mins - Seems like sw (1) completed and (2) in action. May touch the Yellow channel Line before Bouncing back tomorrow. 4860 acts as a good support.
Lets see. Cheers!!!
