Today also NDA and its allies stalled the Parliament, demanding PM's Resignation of Col-gate Report from CAG. A meeting called by Lok sabha speaker Meera Kumar was also boycotted by NDA / BSP and SP, Soon Mr. Ansari my Convene another meeting to end the dead lock. Third day also wasted in Parliament with out any Business as the Whole India Inc is looking for some Bills & Policies to get shaped in this Session atleast to boost the slowing Economy. Many Bills Including FDI in retail which the whole FII's where waiting for it.
At the same time UPA ally Trinamool Congress today strongly opposed allowing FDI in key sectors like retail, insurance and aviation arguing that it would be harmful for the people of the country.
All PSU Banks normal works get halted due to Strike called by All India Bank Employees' Association (AIBEA) due to reforms in the sector and outsourcing of non-core services to private sector.
When economy is facing a crucial Stage or Trouble all these above News are really dis-tubing in nature.
Going abroad - Federal Reserve sent its strongest signal that it is preparing new steps to bolster the economic recovery, saying measures would be needed fairly soon unless growth substantially and convincingly picks up. It shows that QE3 known for Bond Buying may once again in their Options.
In China PMI index for August fell to a nine-month low of 47.8 on a 100-point scale, dropping from July’s final print of 49.3.
Meanwhile Nifty closed in Green with 5.9 Point Plus. Shares Like Jet Airways, Spice Jet and KFA down nearly 5% after a Negative Statement from Mamthaji.
>>> NIFTY <<<
>>> Click the Chart to see in full Screen <<<
As Nifty made a high of 5448 - unable to hold 5436 as i have mentioned it as a resistance level, closed at 5418 managed to stay inside the channel. MACD is signalling an alert as its not moving up with Price. So need confirmation on either side. At this stage balls may favour Bears, but better to stay in "NO TRADE ZONE" unless a break out or break down comes out of the market. Lets see.
>>> IDFC <<<
>>> Click the Chart to see in full Screen <<<
I have posed IDFC in Weekly Review. Now IDFC consolidate between 140-146 as it competed the last leg of Wave C. Today gave a Break down form the channel with Negative Divergence shows that Stock ready to slide any time - even tomorrow possibly. A Gap left on 137 should be the first Target. Lets See.
