The estimation is that the Spain has to raise Euro170bn ($226bn) next year, while refinancing needs for its regions total E30bn and for banks around E90bn.

Easing inflation has given the Reserve Bank of India (RBI) enough room to leave interest rates on hold at its policy review. And, as expected the bank has left all rates unaltered. Thus, rates including repo, reverse repo, cash reserve ratio (CRR) stand unchanged at 6.25%, 5.25% and 6%, respectively. Post lunch session India markets continued to surged higher.

Last three weeks the only buzz in the market is the scams that are going bust now days… As I have mentioned that the list of the scams in India are growing. Heard in the markets that the DMK pulling out the support to Congress. Markets remained very volatile through the week. Fears of DMK removing the support triggered some sell off in the market.

Moil got listed on the brousers with a premium of 55-60%. Before the listing the premium in the grey market have drastically fallen down from nearly Rs300-350 to just Rs200-250. On the listing day Moil opened at 590 and the sell off came and closed at

Nifty made a low of 5795 and high of 5956 to close at 5948 up by 57 points on the last day of the trading session. Nifty to breakout out above its wave theory should close above 6070 levels. Nifty will find resistance at 5966-5987-6033 levels. If Nifty turns down again and closes below the 5890 levels then we could see 5800-5700 levels again in the near future. Below 5700 there could be carnage in the market.

Nifty once again took support at its 38.2% retracement levels and the trend changed. On the last day of the trading week Nifty closed above its 23.6% retracement levels. In last one month Nifty for the 1^st time closed above its 20DMA. This could trigger that the Nifty is all set to move up once again. The RSI have given positive move and the MACD is all set to give positive divergence.

Midcap stocks after the sharp fall in the prices have started picking up. Stocks which have not been named in connection with any price rigging matter have been on the buyer’s radar. Market should continue to rally till the time there is no bad news in the market.

Sell Dr Reddy below 1787 SL 1798 tgt 1776-1753.

Sell HUL price tgt 289-284.

Buy Icici with a SL of 1101.