17/01/2013 Thursday
Hi all,
P + P has spooked the markets
In times of despair its becomes a bit difficult to give reliable forecast.
But with 2 imp events still to be unfolded we have sufficient time to reach our target.
- Credit Policy Review Meet
- Budget
Even if RBI does reduced the interest rate, what impact will it have on the market? Bank Nifty has already run its marathon and this BN will be most hit when market falls on its face.
With most of the important details out, like GAAR postponed till 2016, No change in Duty structure, Perhaps no change in Income Tax, No increase in ST, Proposed to impose CTT, and many other things which, on combining all gives a non-performer tag.
But don't judge the letter from it cover, to save its back Congress can spring surprises.
Today's range is same 6095-6015 TS = 6045
6016 is strong support for Longs, breaching n trading above 6055 will see another rally.
Bye