Thursday, February 13, 2014

5970 Support

Dear All,

Govt may not meet fiscal deficit target of 4.8%: UN Report:-


Ahead of interim Budget, a United Nations report on said the government is unlikely to meet fiscal deficit target of 4.8 per cent of the GDP in the current fiscal due to low growth and high subsidy.

"Given the weak growth momentum in the region and the difficulties in raising tax revenues and curbing expenditure growth, fiscal deficits will remain substantial in the near term," the report titled 'World Economic Situation and Prospects 2014' said.

"In India, the government is unlikely to meet its target of reducing the deficit to 4.8 per cent of GDP in the current fiscal year 2013-14 since growth is below projections and the depreciation of the rupee pushes up the subsidy bill," it said.
The government of India had budgeted to bring down fiscal deficit to 4.8 per cent of GDP in the current financial year, from 4.9 per cent in 2012-13. The interim Budget for 2014-15 is scheduled to be presented in Parliament on February 17.

>>> NIFTY <<<

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Nifty down again. If the count i have marked on chart is not wrong, i feel nifty may take support at 6000 or 5970 for wave b and to move up for wave c to complete 4th sub wave corrective upmove. If 5970 get breaks then fall may continue. Friday should give the answer. Lets See.

>>> Bank Nifty <<<

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Bank Nifty too halted at 61.8%, if unable to hold 10400 or 78.6% retrace then fall should continue.


>>> Apollo Tyre <<<

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First Target done with a Profit of 10,000. Broken all support shows more fall yet to come. Lets See