The finance ministry on Friday said the income tax department wouldn’t adopt coercive methods for recovery of minimum alternate tax (MAT) dues from foreign investors. “Field officers will not push for any coercive demand on MAT claims right now,” said a ministry official.
Expressing concerns over Foreign Portfolio Investors facing MAT demand, global rating agency Fitch today said the controversy may prompt FPIs to think twice before investing in India.
Despite a strong pullback staged by the markets on Friday, experts are not convinced that the stocks can sustain the gains. They believe that unless the Nifty closes closes above 8350, going long may not be advisable.
FIIs have been exiting Indian financial markets, fretting over government's Minimum Alternate Tax demands on them, and also in search of better returns as Indian companies report dismal earnings growth in fourth quarter ended March 31.
According to a report, an avalanche of IPOs in China is pulling down Indian stocks. Money managers in Singapore, Hong Kong and London are withdrawing money from Dalal Street to bet on Chinese companies as the regulator there ..
>>> Nifty Weekly Chart - As Posted Last Weekly Review <<<
>>> Click the chart to see on full screen <<<
Last Week - Wrote clearly how the 50 Week Moving Average looks important. See what happened.
>>> Nifty Weekly Chart - Happened <<<
>>> Click the chart to see on full screen <<<
Doji, with price holding above 50 Week Moving Average shows some rays of hope for the Bulls. If the Price continues to hold above the channel next week also, then expect some pull back rally.
>>> Nifty Daily Chart - As Posted Last Weekly Review <<<
>>> Click the chart to see on full screen <<<
Wrote on Last Weekly Review - That Nifty will test 8000 for the last leg of downside. See what happened.
>>> Nifty Daily Chart - Happened <<<
>>> Click the chart to see on full screen <<<
Above chart is an excellent example of an Complete Irregular Correction or a Bullish Wolf Wave. Since the price had broken the channel as expected and test 8000, we covered all our Shorts and taken long for a good UPmove.
>>> Nifty Hourly Chart <<<
>>> Click the chart to see on full screen <<<
A clear Positive Divergence on RSI shows how the Bulls are hidden and emerged out. So far we are in a 100 to 120 Points Profit. If 50 HEMA crosses and holds above it, no doubt bulls may march upward with more strength.
>>> Bank Nifty Daily Chart <<<
>>> Click the chart to see on full screen <<<
Bank Nifty corrected almost 61.8% of the previous rise, Hence if this was a 4th sub wave, Price may start moving up from here onwards.
>>> Bank Nifty Hourly Chart <<<
>>> Click the chart to see on full screen <<<
Bank Nifty so far corrected as W-X-Y. If this analysis is not wrong , hope for a recovery next week.
>>> ADANIENT - As Posted on 05th May, 2015 <<<
>>> Click the chart to see on full screen <<<
We recommended AdaniEnt to Sell on 05th May, 2015. See what happened.
>>> ADANIENT - Happened <<<
>>> Click the chart to see on full screen <<<
Price made a low of 633. We had a Approx Profit of Rs.30,000/-. Resistance 690 & 705 - unable to cross may trigger another sell off Soon.
>>> SRTRANSFIN - As Posted on 05th May, 2015 <<<
>>> Click the chart to see on full screen <<<
We recommended Srtransfin to Buy on 05th May, 2015. See what Happened.
>>> SRTRANSFIN - Happened <<<
>>> Click the chart to see on full screen <<<
We Exited in Loss, as it broken some major support.
>>> ITC <<<
>>> Click the chart to see on full screen <<<
We are long in ITC and we recommend to Buy the stock on every dips. Expect a good rally from here.
