Hello Friends,
After many days or long time.
ELECTION GAINS = BUDGET PAINS.
We are almost 800 points down from the recent high from 4700 to 3900 levels. Post Elections we saw a some value buying in markets where are got 2 consecutive circuits & it was almost a 1 way rally from 3700 to 4700 levels. This was in anticipation that the Govt this time elected was good & they will go ahead with all the reforms.
This is true that the Govt now has power to do all the things in the Reforms Agenda but the markets did a mistake here that is it expected so many things pre budget that if its no tommorow. Remember this is 8 months budget & we wil another Budget in Feb-March 2010 & the Govt here makes programmes for 5 years. But markets need all those stuffs in 1 month only. Hows that possible ? Anyways markets are now at 3900 odd levels discounting the post budget pains.
NifTiee Close 3974
Supports : 3939 / 3919 / 3883
Resistances : 4040 / 4095 / 4141
Nifty after testing intra low of 3918 bounced back sharply upto 3984 & managed to close at 3974. Remember 3980 is the level when Nifty opened Gap up immediately after election results were out & on Monday. So this level can prove some kind of support to the markets & we may expect some dead cat bounce in the markets upto 4100-4200 levels. The immediate support can be placed around 3880-3900 levels & trail sl once markets heads towards 4100-4200 levels.
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This week we have some important results in U.S markets like Goldman Sachs, J.P Morgan, Google, Citi etc... We expect some positive results from many of these companies & if this happens then we may see all round positive news flow round the world for the week. Next week we have important results in Indian Biggies like Ril, Tcs, etc... so next week may be crucial for our markets too.
Monsoon updates : It would be normal in India but in % terms it would be some what lesser as it has been delayed in June month. So if out of 100% it use to rain around 96% then this time it would be 93%. There would be just short fall by 3% & if u like to panic due to this then we would not seen such Intelligent people. You can compare this with a GLASS FILLED 93% & UNFILLED BY 7% , so will you cry with deficit of 7% or be happy with 93%.
PROVISIONAL FUND FLOW FIGURES RUPEES CRORES FOR 13 JULY 2009.
Fii -559
Dii +742
Fii(derivatives) +225
Index Futures -272
Index Options +186
Stock Futures +314
Stock Options -3
Market Volumes 67k Crores only.
Good Day
Regards,
Allies Financial Services
Mumbai, India
Website : www.alliesfin.blogspot.com
