Thursday, July 05, 2012

Again Friday with Lot of News

Dear All,

Last Friday we had Lot of News in India & EU like GAAR & Euro Summit. Now also we are entering the Friday with Lot of Good News Like

1) Bank of England boost Asset Buying Program by 50 Bln Pounds.

2) China Central Bank leaves Reserve Ratio unchanged, cuts 1-year deposit rate by 25 Bps to 6% and 1-year lending rate by 31 Bps to 3%

3) Govt of India may any time announce Foreign Direct Investment in the multi-brand retail sector any time.

4) In King Fisher Airlines Issue - Bankers have asked Management to provide valuation detail on property sale, SBI to get 25-30% of KFA asset sale proceeds, Rest of the banks to get sale proceeds as per respective share.

As per Technical's there is nothing more to say, as Nifty made a high of 5333 and a Break above 5342-45 may change the trend and a Possible upmove upto 5446 where our earlier counts may get changed. Lets wait for the Interesting Weekend close for tomorrow move. Cheers.