The Prime Minister’s Economic Advisory Council (EAC) has projected a growth rate of 7.7% for 2008-2009, revised from 8.5%. EAC expects inflation to rise to 13% before it starts to taper off. Some more stocks included in the Nifty F&O kitty. Some more stocks available for ‘SATTA’. Out of the 39 scripts that are going to be included in the F&O, some of them are highly illiquid, taking the total to around 270. A group of speculators can easily control the floating in the cash segment that can lead the increase or decrease the prices in Futures. This move is going to encourage speculation. Today inflation figures will be announced today. Markets will remain volatile as the IIP Data were not that great. There was No change in the Participatory Notes.
Technical View:
As mentioned in my earlier blog also that the Nifty is stiff resistance at 4625 levels. Yesterday Nifty closed at 4529. Nifty will find good support at 4440 levels. Nifty close below 4440 for 2 days can take the Nifty to 4250.
Technical View:
As mentioned in my earlier blog also that the Nifty is stiff resistance at 4625 levels. Yesterday Nifty closed at 4529. Nifty will find good support at 4440 levels. Nifty close below 4440 for 2 days can take the Nifty to 4250.
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