Rating agency Moody’s Investors Service on Thursday gave a much-needed booster to the Narendra Modi government ahead of the prime minister’s visit to France, Germany and Canada by revising India’s sovereign credit rating outlook to positive from stable.
However, the agency reiterated India’s sovereign credit rating at the lowest investment grade of Baa3, pointing out its weaker performance relative to peers on fiscal, inflation and infrastructure-related metrics.
The decision to upgrade the country’s rating outlook was taken at a meeting of the rating committee of Moody’s on 7 April. “The main points raised during the discussion were: The issuer’s economic fundamentals, including its economic strength, have materially increased. The issuer’s institutional strength/framework has materially increased. The issuer’s fiscal or financial strength, including its debt profile, has not materially changed,” the rating agency said in a statement.
India’s chances of a sovereign rating upgrade over the next 12-18 months is greater as investments are expected to revive, growth to improve and inflation to stay modest, Moody’s sovereign rating analyst Atsi Sheth said on Thursday.
>>> Nifty Daily - Posted on 28th March, 2015 <<<
>>> Click the chart to see on full screen <<<
Above chart posted on 28th March, 2015. We have advised our Clients to go Long from 8450. See what happened today.
>>> Nifty Daily - Happened <<<
>>> Click the chart to see on full screen <<<
So the entire scenario may change if nifty able to cross above 8794 as shown on chart. Fresh Short Covering and Rally possible. So why and how, Lets see in detail on 5 min chart - which can be an alternative with Bulls side.
>>> Nifty - 5 Mins Chart <<<
>>> Click the chart to see on full screen <<<
Above 5 mins chart marked as an alternative for an upward bias. It looks like the upmove is an extension waves with lot of volatile. Hence if this chart is not wrong, expect more rally to come in.
>>> Bank Nifty - Posted on 30th March, 2015 <<<
>>> Click the chart to see on full screen <<<
If you are a regular reader, You might not have forgotten the above chart posted on 30th March, 2015 - Weekly Review.
>>> Bank Nifty Daily - Happened <<<
>>> Click the chart to see on full screen <<<
Trust Us. We are Long since 18000. Today Bank Nifty Spot Crossed an important Resistance 18800. Next Resistance @ 19130. RSI on a clear Break Out. So Expect More Rally.
>>> TATASTEEL <<<
>>> Click the chart to see on full screen <<<
We are long in Tata STeel from 434. Both Price and RSI on a Excellent Break out, Buy on Every Dips for a Good and Fast Rally. Cheers!!!
