A number of people are asking that how the market is going to be in the coming days ahead and we can sum up the same that it all depends on the global scenario and price of the crude. Domestic triggers are over and it will now move as per global trends and as per the situation in Libya/ middle east. We have a reason to cheer as FIIs have again started pouring in the funds. Another reason to cheer is by virtue of statement by Montek Singh Ahluwalia, deputy chairman of India's Planning Commission who stated that Inflation will go down to 7% by mid March and conditions are ripe for Indian growth. We stick to our words that fresh bull run will commence only once the Nifty breaks past 5655 level with conviction and volume. Make use of the stock specific opportunities in sideways trending market and trade with conviction with our hot share tips and just walk away with glory to bank with the profit. We need to watch Libyan leader Muammar Gaddafi and the president of the Arab League action who have agreed to a peace plan from Venezuela's President Hugo Chavez to end the crisis in the North African country. This can bring stability in crude price. Till the time crude remains with in the range of $100 per barrel we can be hopeful of keeping the 4.6% fiscal deficit in sight else we can forget the same.
Today share market
It performed well today to provide some solace to bulls who must be keeping their fingers crossed to see Nifty crossing the Laxman Rekha in the market. Moreover now price of the crude and Libya peace process will pave the way for Indian stock market. As we can see crude is still hovering above 100 levels.
A dichotomous statement from Reserve bank of India which has asked banks to offer higher interest to encourage savings while at the same time they should lower rates at which they offer loans. This is a very fine balance which probably private sector banks may not toe but PSU banks may be made the scape goat by virtue of a dictat. Well, this will be against the business economics that one borrows from general public at higher rate and in return one pays back to same public as a loan at lower rate of interest. This is called as an utopian society approach which is not possible to achieve. We must not forget that as per the Basel III rules, proposed by the Basel Committee on Banking Supervision, banks would have to raise the level of top-quality capital known as core Tier 1 to 7 per cent of their risk-bearing assets by 2019. Currently, core Tier 1 requirement is 2 per cent.
We are equally concerned that Bangladeshi Nobel laureate Muhammad Yunus has been removed as a managing director of Grameen bank which he founded in year 2000. Prime Minister Sheikh Hasina's government has not done a justice to a noble prize winner. There are a number of ways to remove a person honourably. As a nation we are thankful to Prime Minister Sheikh Hasina's government for cracking down on North East militants in her domain; however some due deliberation must have had been taken while removing a person who has brought laurels to the nation. He has been removed on the charges that Grameen bank has been dodging taxes. This report came in limelight by virtue of a Norwegian documentary.
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Support and Resistances for the Day
Indices | Support | Resistance |
Nifty | 5450 | 5654 |
Sensex | 18300 | 18865 |
Stock | Profit (Rs) |
Tip | 1340 (Rs 50,000 Trading) |
Share | Gains (Rs) |
Tips | 32970 |
NSE Nifty 50 Stocks | Made Money (Rs) |
Tipz | 45870 |
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Strong future shares at National stock exchange
Triveni, India Info, Sobha, ITC, Nat Alum, Maruti, HDIL, Havells, LIC Housing & Cairn.
Weak future stocks at NSE
Mphasis, Patel Eng, Aurobindo Ph, S Kumar, BGR Energy, Unitech, Punjlloyd, GT Offshore, LITL & Rcom..
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