Saturday, December 15, 2012

Weekly Review 17.12.2012

Dear All,

If you are in Stock Market then You Must LOVE - Mr. P. Chidambaram - Finance Minister.

Yes, its a 100% True. When he took over as FM after Mr. Pranabji Left his Seat, Mr. PC was very busy in addressing the following issues,

1) Investor confidence
2) Inflation
3) Widening fiscal deficit
4) Yawning current account deficit.

To gain the confidence of foreign investors, Chidambaram has to find ways to arrest and reverse the powerful negative trend in India's growth which has ended up in a yawning gap in the nation's fiscal balance and high inflation, left behind by his predecessor and the new Indian President Pranab Mukherjee. Perhaps this was also the main reason behind the decision of the UPA leadership to project Pranab Mukherjee as the presidential candidate

Every market men knows that Mr. PC is a real doctor who can cure all the above diseases.

So far the Most argued or most criticized FDI in Retail Bill was Passed in Parliament is a big Success for Mr. PC.

So whats Next ...

Banking Bill:- seems to have reached an agreement with opposition, may be passed in both house next week, this may bring more foreign investment in to the baking industry as a whole.

GAAR:- The government is working on the recommendations of Parthasarathy Shome Committee, which had suggested modification in laws dealing with General Anti-Avoidance Rules (GAAR) and retrospective tax law amendments.

Chidambaram said that in the last five months, government has taken several measures to bring the economy back to high growth path through fiscal consolidation, addressing inflation concerns, external sector vulnerabilities and increasing investor confidence.

Last weekly Review gave as below, 5940 act as a Resistance ...

>>> Nifty - Daily <<< As Anticipated ...

>Click the Chart to see on full screen<

Happened So Far ...

>Click the Chart to see on full screen<

So Nifty unable to Cross 5940 and not broken 5815 on the down side and made a side way movement.

>>>Nifty - Hourly <<< As Anticipated ...

>Click the Chart to see on full screen<

As Mentioned last week still there are possibilities of 2 alternatives as mentioned on green and Yellow counts. So whats next..

As Happened so far ...

>Click the Chart to see on full screen<

As wrote last week and also followed by many post, 5838 not broken so far means..

i) Upmove wave 5th may be going on as I have marked with white colored (i) and (ii)

ii) Else a-b-c-d-e consolidation may happen as the current move inside a channel marked in Yellow colored and possible to touch the lower channel of expanding triangle.


>Click the Chart to see on full screen<

Bullish Pole Flag Break Out - But as I wrote Last Weekly Review its safe to Buy above 2340 Refer