>click the chart to see on full screen<
No Major change in Nifty as 5865 Holding on Support and 5930 did not cross. Its a lackluster trade after a good IIP Data.
Political chaos on Banking Bill, Inflation worries and fear of Rate Cut from RBI worries Traders and FII's. S&P warned about possibility of downgrading, Wallmart Bribe for Passing Bill on FDI in retail - making the Political and economic situation more dimm.
Lets wait for more clarity !!!
Today Lets see an Important Bill Passed today on Parliament !
The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Bill, 2011
>click the image to see on full screen<
Some Important Point are :-
1) Indian Banks NPAs had risen to around 3.5%, it was not too high for an emerging economy like India, due to this Bill Recovery shall be faster than before to improve the Financial situation of Banks - Especially PSU Banks.
2) The Debt Recovery Act does not apply to loans of less than Rs 10 lakh, means a common Individual, Farmers or small traders. Aiming particularly on big corparates like KFA
This means lot to cheers for Bank whose NPS's kept rising in recent Years.
>> Bank Nifty <<
>click the chart to see on full screen<
In spite of Bank Regulation Bill on Parliament - Nifty on important support 12300-340 as its look like a H&S.
Instead EW suggest a pending 5th wave upmove. Lets see.
