ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
petrol price hike lesser than desired retail selling rate: IOC
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RBI will take right action to stablise prices: Pranab Mukherjee
Amid expectations that Reserve Bank of India (RBI) will hike policy rates later this month to tame high inflation, finance minister Pranab Mukherjee today said the central bank will take appropriate monetary action to stabilise prices.
"Whenever the appropriate adjustment of the crucial rates is called for in the larger interest of the economy, including the price stabilistion, the RBI takes appropriate policy in consultation with the government," Mukherjee told reporters.
He was addressing a joint a press conference with World Bank group president Robert Zoellick in New Delhi.
Mukherjee said the RBI always keeps the economic situation under review.
The RBI is widely expected to raise short-term lending and borrowing rates - repo and reverse repo - in its policy review on January 25 to tame inflation, particularly food inflation.
Expensive food items pushed overall inflation to 8.43% in December, but experts say the rate of price rise will come down now since the country has seen the peak of food prices.
On inflation in India, Zoeillic said it is mainly due to supply side constraints.
"My own sense in the case of the Indian economy is that some of the inflationary pressures are more likely a function of some of the bottleneck on the supply side than they are from the demand side," he said.
Mukherjee will have pre-budget interactions with state counterparts on Wednesday, where the issue of inflation would also be discussed.
He has also written letters to states asking them to remove supply bottlenecks in food products.
RBI had raised short term rates six times last year to check inflation before pressing a pause button in December.
NIFTY-JAN F&O-1ST BUYING OF 14-01-2011-TRADE
NIFTY(JAN FUT-BUY-POSITIONAL)SL-5624-TGT-5744-CMP-5644
NIFTY(JAN CALL OPTION-BUY-POSITIONAL)-S.P.FOR CALL-5600,5700-NIFTY(JAN FUT)-RATES ARE
FOR SL-5624-TGT-5744 FOR ALL OPTIONS-CMP-5644
(No covering today and we shall cover in Next week)
NIFTY(JAN CALL OPTION-BUY-POSITIONAL)-S.P.FOR CALL-5600,5700-NIFTY(JAN FUT)-RATES ARE
FOR SL-5624-TGT-5744 FOR ALL OPTIONS-CMP-5644
(No covering today and we shall cover in Next week)
Pre-Open Market Outlook(14-01-2011)
Infosys below expctations quarterly results triggered down moves yesterday and markets loosed all the previous days gains. Although some selling seen in first session but consolidation also sen within 5740-4785. Nifty got support within 5712-5740 on 12-01-2011 and also got support within 5740-4785. Sentiment is most derpressing now and until nifty not sustain below 5712 till then any down move will not be considered for the following reasons:-
1- 4 Sessions down moves are not showing genuine selling but pattern is Water Fall formations and it is bullish pattern.(shown in 10 days intraday chart)
2- Last 3 days support within 5712-5785
10 days intraday chart:-
Yesterday down move was news based on the back of Infosys below expctations quarterly results and also lower levels consolidation seen even after yesterday down moves and amid depressing sentiments also therefore until Nifty will not sustain below 5712 till then bullish expectations will remain alive.
Yesterday intraday trading range(5738-5858) will be next move decider and sustaining beyond will give next moves confirmations therefore will be watched first for deciding next immediate moves.
1- 4 Sessions down moves are not showing genuine selling but pattern is Water Fall formations and it is bullish pattern.(shown in 10 days intraday chart)
2- Last 3 days support within 5712-5785
10 days intraday chart:-
Yesterday down move was news based on the back of Infosys below expctations quarterly results and also lower levels consolidation seen even after yesterday down moves and amid depressing sentiments also therefore until Nifty will not sustain below 5712 till then bullish expectations will remain alive.
Yesterday intraday trading range(5738-5858) will be next move decider and sustaining beyond will give next moves confirmations therefore will be watched first for deciding next immediate moves.
Trading Levels for 14-01-11
Nifty Spot Levels for 14-01-11
R3 5948
R2 5903
R1 5827
AVG 5782
S1 5706
S2 5661
S3 5585
Nifty Jan Futures Levels for 14-01-11
R3 5970
R2 5919
R1 5837
AVG 5786
S1 5704
S2 5653
S3 5571
Bank Nifty Jan Futures Levels for 14-01-11
R3 11485
R2 11314
R1 11021
AVG 10850
S1 10557
S2 10386
S3 10093
R3 5948
R2 5903
R1 5827
AVG 5782
S1 5706
S2 5661
S3 5585
Nifty Jan Futures Levels for 14-01-11
R3 5970
R2 5919
R1 5837
AVG 5786
S1 5704
S2 5653
S3 5571
Bank Nifty Jan Futures Levels for 14-01-11
R3 11485
R2 11314
R1 11021
AVG 10850
S1 10557
S2 10386
S3 10093
5 Principles of Trading
1- Always place stop loss either in yours mind or in trading terminal.
2- Always trade in that volume in which you can bear loss.
3- Never try to earn huge Profits from only one trade.
4- If confusion then close yours trade first and then think once again.
5- If can not follow market then don't trade on that particular day.
2- Always trade in that volume in which you can bear loss.
3- Never try to earn huge Profits from only one trade.
4- If confusion then close yours trade first and then think once again.
5- If can not follow market then don't trade on that particular day.
Mid-session outlook-2(13-01-2011)
Today first hour range(5812-5852) broken out in upward panic after improved inflation data declaration and market could not sustained at higher levels. It is confirm weakness signal. As follow up selling in upward panic seen today therefore further weakness possibilities have increased. If Nifty slips below 5812 then it will be down move confirmation.
Mid-session outlook(13-01-2011)
Infosys quarterly results disappointed Indian markets therefore trading in Red against bullish expectations. Infosys and RIL results having power to give decisive direction to Indian markets and sentiment is depressing after today Infosys results. Although long term trend is up but intermediate and short term trends are down also.
Nifty got support 4 times near 5700 earlier and yesterday good up move seen after nice base formations at 5715. As selling signals at higher levels and minor intraday support within 5812-5852 seen after weak opening today therefore mentioned trading range of today will be next move decider and Nifty will prepare for next moves within this range.
Let market prepare then final conclusions will be drawn according to break out of mentioned range(5812-5852).
Nifty got support 4 times near 5700 earlier and yesterday good up move seen after nice base formations at 5715. As selling signals at higher levels and minor intraday support within 5812-5852 seen after weak opening today therefore mentioned trading range of today will be next move decider and Nifty will prepare for next moves within this range.
Let market prepare then final conclusions will be drawn according to break out of mentioned range(5812-5852).
NIFTY-JAN F&O-BOUGHT ON 12-01-2011-COVERING
NIFTY JAN F & O(BOUGHT ON 12-01-2011)-COVER IMMEDIATELY-CMP-5855 (INFOSYS RESULTS BELOW EXPECTATIONS)
Pre-Open Market Outlook(13-01-2011)
Indian markets are moving down on extremely depressiong economic news otherwise technically bullish signals are also specially visible in intraday charts therefore I am presenting my bullish views and explaining bullish intraday patterns. Nifty recovered sharply after forming base at 5715 and about it also following lines were told at 12:30 pm yesterday:-
"At present Nifty showing support near 5715 and if this support is maintained then fresh up move from here will be considered"
As charts are suggested up moves therefore I told following following in Pre-Open Outlook yesterday:-
"My view is bullish and expecting sharp rally after sustaining above 5835"
Rally seen yesterday after forming good base at 5715 and minimuim a pull back rally expected in the coming sessions. As previous 3 sessions intraday charts are showing Water Fall pattern therefore no immediate strong resistance and continuation of yesterday begun rally expected in the coming sessions.
Since opening to closing positive market expected today.
"At present Nifty showing support near 5715 and if this support is maintained then fresh up move from here will be considered"
As charts are suggested up moves therefore I told following following in Pre-Open Outlook yesterday:-
"My view is bullish and expecting sharp rally after sustaining above 5835"
Rally seen yesterday after forming good base at 5715 and minimuim a pull back rally expected in the coming sessions. As previous 3 sessions intraday charts are showing Water Fall pattern therefore no immediate strong resistance and continuation of yesterday begun rally expected in the coming sessions.
Since opening to closing positive market expected today.
Trading Levels for 13-01-11
Nifty Spot Levels for 13-01-11
R3 6084
R2 5979
R1 5921
AVG 5816
S1 5758
S2 5653
S3 5595
Nifty Jan Futures Levels for 13-01-11
R3 6108
R2 5996
R1 5935
AVG 5823
S1 5762
S2 5650
S3 5589
Bank Nifty Jan Futures Levels for 13-01-11
R3 11775
R2 11479
R1 11316
AVG 11020
S1 10857
S2 10561
S3 10398
R3 6084
R2 5979
R1 5921
AVG 5816
S1 5758
S2 5653
S3 5595
Nifty Jan Futures Levels for 13-01-11
R3 6108
R2 5996
R1 5935
AVG 5823
S1 5762
S2 5650
S3 5589
Bank Nifty Jan Futures Levels for 13-01-11
R3 11775
R2 11479
R1 11316
AVG 11020
S1 10857
S2 10561
S3 10398
NIFTY-JAN F&O-1ST BUYING OF 12-01-2011-TRADE
NIFTY(JAN FUT-BUY/CALL-BUY-BTST)SL-5849-TGT-5934-CMP-5868
NIFTY(JAN CALL OPTION-BUY-BTST)-S.P.FOR CALL-5800,5900-NIFTY(JAN FUT)-RATES ARE FOR SL-5849-TGT-5934 FOR ALL OPTIONS-CMP-5868
NIFTY(JAN CALL OPTION-BUY-BTST)-S.P.FOR CALL-5800,5900-NIFTY(JAN FUT)-RATES ARE FOR SL-5849-TGT-5934 FOR ALL OPTIONS-CMP-5868
Mid-session outlook-2(12-01-2011)
Highly volatile and random movements therefore trading is highly risky. Let market form a base then trading according to that will be safer. At present Nifty showing support near 5715 and if this support is maintained then fresh up move from here will be considered.
Mid-session outlook(12-01-2011)
India Nov industrial growth 2.7% vs 11.3% year ago. India Nov manufacturing sector growth 2.3% vs 12.3% yr ago
Although market reacted and declined sharply but recovered also immediately and reacting in most volatile manner. It has to be kept in mind that Indian economy growth can not be evaluated from one weak IIP data but market react in its own manner.
Although sentiment is extremely depressed but 5690 will be watched for down move confirmations. News based voltality,let market form its base and according to that final view will be formed.
Watch 5765-5835 for Next Big Move Confirmation
Pre-Open Market Outlook(12-01-2011)
Indian markets closed with minor loss after huge last hour voltality and Candle is Doji which means indecision but intraday charts of yesterday are signalling consolidation. As weekly inflation surged sharply last thursday therefore widespread fear of lower levels expectations near 5200 is every where seen and sentiment is completely depressed. Situation is alarming but will be under control and after watching last 3 sessions consolidation patterns in intraday charts it is expected that Indian markets will start to move up.
AS yesterday charts are showing consolidation patterns therefore rally is very much expected and all the bullish expectations which has been posted in last 2 sessions will be seen in the coming sessions.
Next immediate trend confimations range is 5765-5835 and nifty will blast above 5835. My view is bullish and expecting sharp rally after sustaining above 5835 and for safety just telling that:-
Watch 5765-5835 for next big move confirmation and trade accordingly to its sustaining beyond.
Indian markets closed with minor loss after huge last hour voltality and Candle is Doji which means indecision but intraday charts of yesterday are signalling consolidation. As weekly inflation surged sharply last thursday therefore widespread fear of lower levels expectations near 5200 is every where seen and sentiment is completely depressed. Situation is alarming but will be under control and after watching last 3 sessions consolidation patterns in intraday charts it is expected that Indian markets will start to move up.
AS yesterday charts are showing consolidation patterns therefore rally is very much expected and all the bullish expectations which has been posted in last 2 sessions will be seen in the coming sessions.
Next immediate trend confimations range is 5765-5835 and nifty will blast above 5835. My view is bullish and expecting sharp rally after sustaining above 5835 and for safety just telling that:-
Watch 5765-5835 for next big move confirmation and trade accordingly to its sustaining beyond.
PM calls high-level meet to tame inflation
Prime Minister Manmohan Singh on Tuesday met with his ministerial colleagues to figure out ways to deal with spiraling food prices. The PM is looking to streamline the reasons behind the price escalation and find ways to prevent its re-occurrence.
The meeting has come at a time when inflation is at more than 18 per cent and the Opposition has been attacking the government for failing to control food prices.
However, the government wants to move cautiously, so as not to affect growth. It may look at taking moderate measures initially.
Along with ministers like Sharad Pawar and Pranab Mukherjee, Planning Commission deputy chairman Montek Singh Ahluwalia and economic advisor Kaushik Basu were also present in the meeting.
According to sources, the meeting may be resumed either Wednesday or in the next few days as the group of ministers have almost finalised a roadmap to tackle inflation. The measures, however, will be discussed again in the presence of Pranab Mukherjee who had to leave early due to prior appointments.
Sources also say that the Prime Minister's office is likely to come out with an announcement of these measures Wednesday. Most government measures till now, like raiding onion traders or slashing import duty or even tightening monetary policy, seem to have achieved little.
Retail Onion prices continue to remain at Rs. 60-65 a kg and inflation worries has not only spooked the stock market but India's growth target is also under question now.
Source; http://profit.ndtv.com/news/show/pm-calls-high-level-meet-to-tame-inflation-135515?pfrom=home-Business
Trading Levels for 12-01-11
Nifty Spot Levels for 12-01-11
R3 5977
R2 5910
R1 5832
AVG 5765
S1 5687
S2 5620
S3 5542
Nifty Jan Futures Levels for 12-01-11
R3 5981
R2 59113
R1 5840
AVG 5770
S1 5699
S2 5629
S3 5558
Bank Nifty Jan Futures Levels for 12-01-11
R3 11354
R2 11166
R1 11006
AVG 10818
S1 10658
S2 10470
S3 10310
R3 5977
R2 5910
R1 5832
AVG 5765
S1 5687
S2 5620
S3 5542
Nifty Jan Futures Levels for 12-01-11
R3 5981
R2 59113
R1 5840
AVG 5770
S1 5699
S2 5629
S3 5558
Bank Nifty Jan Futures Levels for 12-01-11
R3 11354
R2 11166
R1 11006
AVG 10818
S1 10658
S2 10470
S3 10310
PM chairs meeting with top ministers on inflation
Tue, Jan 11, 2011 at 19:51
Concerned by sky high food inflation the Prime Minister today chaired a meeting with some of his top ministers on how to tackle food inflation. Rituparna Bhuyan reports Pranab Mukherjee, P Chidambaram and Sharad Pawar were all part of this meeting.
The points discussed in Prime Minister’s meeting include recommendations discussed by a committee of Secretaries that met on January 6 on the food price issue.
RELATED NEWS
India urges Pakistan to resume onion exports
It is learnt the Prime Minster discussed prices as well as administrative measures. The recommendations included doing away with import duty on sugar as well banning on sugar export.
The gathering would also discuss import norms for milk products and may be asked to lower local taxes in order to curb price rise in these commodities.
Source: http://www.moneycontrol.com/news/economy/pm-chairs-meetingtop-ministersinflation_512320.html
Concerned by sky high food inflation the Prime Minister today chaired a meeting with some of his top ministers on how to tackle food inflation. Rituparna Bhuyan reports Pranab Mukherjee, P Chidambaram and Sharad Pawar were all part of this meeting.
The points discussed in Prime Minister’s meeting include recommendations discussed by a committee of Secretaries that met on January 6 on the food price issue.
RELATED NEWS
India urges Pakistan to resume onion exports
It is learnt the Prime Minster discussed prices as well as administrative measures. The recommendations included doing away with import duty on sugar as well banning on sugar export.
The gathering would also discuss import norms for milk products and may be asked to lower local taxes in order to curb price rise in these commodities.
Source: http://www.moneycontrol.com/news/economy/pm-chairs-meetingtop-ministersinflation_512320.html
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