Saturday, June 16, 2012

Pranab Vs RBI Vs Nifty

Great News !!! Pranab may resign as the Finance Minister on June 24 after filing his nomination for the President's post and the Prime minister is likely to take over the Finance portfolio. Sources also say that P Chidambaram or Sushil Shinde may replace Pranab as the Leader of the Lok Sabha.

so what Mr. Pranab achieved as FM during his time ???

Pranab is the First FM to be Under Pressure in India ???

High Inflation / Negative GDP Growth / Sky flying Oil Prices / Raised Taxes = its true that no one likes Pranab as FM.

So Now the Big Question is WHO IS THE NEXT F M ???

I hope there is no chance for PC as he is still in trouble with Swami who is making allegation against him in 2G Spectrum Case.

Will Montek can Replace him - i think after his foreign trip and also Toilet Controversy had taken a big blow to his reputaion..

So will Sushil Shinde succeed ??? Will the Indian Markets cheer up for him to be the New FM ????

Will RBI fulfill market expectation on Monday ???

Due to Poor Industrial Growth and High Inflation - Market expecting an aggressive rate cut on Monday - will Subbaroa satisfy Nifty with his Action ???

So finally Les See whats on Nifty Eod Chart

Please click the above chart for a clear picture.

Given above is the Eod chart shows a clear break out from the above trend line and almost near the 200 dma, a cross above this means no doubt a big bull trigger for next week. Two gaps left on the top 5180 and 5226 - means no doubt Nifty will fill it .

On Hourly Chart No doubt we are in 3rd Wave - means Bulls has already triggered for a good Upmove in coming days. Resis 5190 / 5235 / 5280 / 5342 for Next Week. Strong Support @ 5047

Fridays Performance :-

(15/Jun/2012 11:05:28): ****NIFTY-ALERT**** :- Buy Nifty (Spot) Only above 5108-10 Level for a Possible Upmove for 5136 / 5190 & 5235. Nifty Weak Below 5070 may slide upto 5060 / 5040 & 5000.

(15/Jun/2012 12:13:32): ****NIFTY-ALERT**** BUY TRIGGERED

(15/Jun/2012 14:13:43): Nifty on INtraday Day High - 5131. Buy given @ 5108. Hold Your Longs for Given Target with SL.

Nifty made a High of 5146 and Clients are Holding for the Given Target on Monday. I may Extend the Target or Advise to Book Profit during Market Hours depending on the Market Conditions

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