Tuesday, February 04, 2014

Bulls are Back Again ???

Dear All,

India is better prepared to deal with any further US Fed tapering, but the country needs to remain vigilant to face eventualities, Reserve Bank Governor Raghuram Rajan said here today.

"We have done a lot to make the economy robust and we are better prepared (to deal with impact of tapering). (But) I will never say we are fully prepared for any eventuality. We have to be vigilant.

"We are better prepared certainly now than we were six months ago and that is because of hard work by the government as well as regulators," Rajan told reporters after the FSDC meeting.

The meeting took place against the backdrop of tapering of Quantitative Easing (QE) in the US, and the Reserve Bank revising the current financial year's growth projection to less than 5 per cent.

Last week, the US Federal Reserve decided to cut its bond purchases further by another $10 billion. It has decided to purchase $65 billion per month of mortgage backed securities and longer-term treasury securities as against $75 billion per month earlier.

>>> Nifty <<<

>>> Click the chart to see on full screen <<<

If you are a regular reader - You must be well know that we are advising short for many many days on nifty. Yes today told to cover shorts and enter Long. More details on chart.

>>> Bank Nifty - As Udpated Last Weekly Review <<<

>>> Click the chart to see on full screen <<<

Wrote on Last weekly review that its time to cover shorts as we witnessed a much positive divergence. See what happened today !!!

>>> Happened and Yet to <<<

>>> Click the chart to see on full screen <<<

Yes We are Long since yesterday and average around today's low also. So as per chart if breaks the channel - expect a big short covering.

>>> Axis Bank <<<

>>> Click the chart to see on full screen <<<

Yes We are Long in Axis Bank since 1105. Got a Clear break out as on chart. Big upmove coming. Lets See.

>>> State Bank of India <<<

>>> Click the chart to see on full screen <<<

SBI gave a clear break Out on Chart. Yes we are long in SBI too since 1510. Lets See.