Ek tha 'Singham'

Almost one month elapsed after S&P Rating Agency held meeting with Indian Finance Ministry and issued a 90 days Notice to avoid India being downgraded and Scraped as "JUNK" Status by them. A Firm action and Policy decisions may avoid such a situation. Mr. Singh should act fast - especially to Narrow the fiscal deficit by narrowing the Subsidy burden on Diesel Prices.

Mrs. Sonia Gandhi is not an economist like Mr. singh, to be sure that Mrs. Sonia Gandhi won't allow any decision from MR. Singh which may badly hit the Vote Bank and disturb the relations with Coalition Partners like Mathaji and Mulayamji in particular.

If at all S&P downgrades India - FII's must exit India as they have it as a Policy. Market may see some severe sell off which may drag our Index to new Low.

FDI in Retail / Vodafone Tax Issue / GAAR / 2G Spectrum Scam & allocation / CWG Scam / Coal Scam & some rumours of Stock Market scam by Kethan Parik once agian are some the issues heavily damaged the Reputation of the Nation in a whole.

Other factors like Failure in Mansoon will heavily impart food Production as a result there will be a spike in Inflation.

Sudden raise in NPA in all Indian Bank like SBI - Govt's inability to fund them with immediate effect - which give a Blow.

Falling Euro is a Major issue which hurt our currency as a whole due to Green / Spain & Italy troubles.

Mr. Singham should act fast - doesn't matter after President election or before to save our Nations and Nifty.

>> Click the thumbnail to see the Chart on Full Screen<<<

Finally Nifty Broken the Raising Wedge. It seems the Upmove is over. So far the Upmove was so complicated to make counts on it. But sure that its not a Impulse wave - its just a corrective wave of 2 or B. So now the impulse down wave C or 3 has started. So the First Target can be the Gap left as marked on Chart at 5159, and may fall deeper to fill the second gap at 4868 also if there are continuous flow of Bad news.

So Lets wait for tomorrows move - its going to be very interesting as its Weekend closing - Friday. Lot of Actions yet to be seen. Cheers