The ECB's announcement on Thursday that it is prepared to make unlimited bond purchases in order to lower borrowing costs for countries in crisis could mark a turning point in the euro crisis. German commentators, however, criticize the bank for becoming a hostage to politics.
Jens Weidmann, head of the German central bank, the Bundesbank, and a prominent member of the ECB Governing Council, has been vocally opposed to restarting bond purchases. He was the only member of the ECB's 22-member Governing Council to vote against the decision on Thursday.
Some of the elements of the new program appear to be designed to assuage German concerns. For example, the ECB will only assist countries that appeal for help to the euro bailout fund and submit to the required austerity conditions. Draghi also indicated that any bond purchases would be counteracted by measures to ensure that the money supply in the euro zone remains stable in order to avoid inflation, a top concern in Germany.
So it very Clear that German is Not happy with Dhragi's decision to Purchase Bonds. So there can be a Twist and Turns in coming days which may rock the world market once again.
Back Home fuel prices won't be increased immediately, sources say government has no other option but go for an across-the-board hike. Thus prices of petrol, diesel, LPG cylinder and kerosene will be increased.
Market experts still believe the government will consider hike in petrol or diesel prices soon, though Minister of State and Oil said the prices of diesel would not go up in near future.
However key UPA ally Trinamool Congress on Thursday said it will oppose any fuel price hike.
>>>NIFTY<<<
> Click the chart to see on Full Screen<
If you have read my Post for last one week, then you won't get surprised for the rally on friday. Finally the Trend line support worked out and Nifty rallied for more than 100 Points in a single day. As Per Chart attached above 5342 is an Important Resistance. But on Saturday Trade Nifty able to closed at 5358 should be noted. So next week if Nifty able to hold 5342 then 5448.6 shall be the Next Resistance which is the Recent High.
>>>BANK NIFTY<<<
Last two Week have wrote about the Bank Nifty - Cautioned our Readers that Bank Nifty may fall Badly.
As per attached chart - Now it seems Bank Nifty is on the Path of Recovery. Bank Nifty able to cross important Resistance 10130. Next Resistance shall be 10228, 10272 & 10325.
>WEEKLY CHARTS FOLLOW UP<
>>>AXIS BANK<<<
Chart given on 31st Aug, 2012
>Click the chart to see on full screen< Happened till 07th Sep, 2012
>Click the Chart to See on Full Screen< Warned about Axis Bank Break down on 01st Sep near 990 level. Stock melted down to 927 on 05th Sep. But We unfortunately missed to encash it as we covered our Shorts earlier with mild Profit. Refer our Performance Sheet below for the same. Now as per 2nd Chart on Axis - its time for a Relief Rally - hence forth it may rally up to 1020 to 1035 in next week.
>>>PERFORMANCE<<<
Profit Booked & Un-booked remains at 41625 for the first Week of Sep,2012.
We had 3 more weeks remaining. Lets See.
>>> CHART OF THE WEEK <<< >>> AUROPHARMA <<<
>Click the chart to see in full screnn<
So whats running Auro Pharma for the Last 2 Days :-
Aurobindo Pharma gets US nod for anti-hypertension pills
Annual sales of these capsules stood at nearly $500 million for the twelve months ending March 2012
The company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Amlodipine Besylate and Benazepril Hydrochloride capsules.
As per News and Chart - Auro Pharma had a convincing Break Out above 118 and We had a Buy call at 122. Refer Our Performance Sheet above. On Saturday it reached 131. Stock had a Resistance betwen 131 and 135, where it may consolidate and move up for a Potential Target of 150 in Short Span of time.
No comments:
Post a Comment