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Indirect tax collections (from service tax, customs and excise duties) rose nearly 36% during Apr-Sep ‘15 – to Rs 3.24 Lakh Crores from Rs 2.38 Lakh Crores during Apr-Sep ‘14 – giving a boost to the government’s coffers. The budget had estimated a 19% growth. In another sign of improving economic activity, commercial vehicle sales […]

Nifty chart: a mid-week update (Oct 07 ‘15)

Posted by on October 7, 2015 20:52 pm · 50 views

in Stock Trading

After heavy selling in the previous 2 months, FIIs have turned net buyers of equity. During the first 4 trading days in Oct ‘15, their net buying has been worth Rs 1125 Crores, as per provisional figures. DIIs have been net sellers of equity worth Rs 125 Crores. Monsoon has withdrawn from most parts of […]

The daily bar chart pattern of gold has been consolidating sideways for the past 6 weeks within a ‘triangle’ pattern and oscillating about its 20 day and 50 day EMAs. Since a ‘triangle’ is an unreliable pattern, a breakout can occur in either direction. Down days have outnumbered up days, but volumes have been strong […]

After falling sharply below a bearish ‘rising wedge’ pattern, the daily bar chart pattern of S&P 500 touched an intra-day low of 1872 on Sep 29 (slightly higher than the Aug ‘15 low of 1867), formed a ‘reversal day’ bar and rallied on good volumes to close above its 20 day EMA and the 1950 level […]

Sensex, Nifty charts: are the downtrends finally ending?

Posted by on October 3, 2015 11:22 am · 125 views

in Stock Trading

For the second month in a row, and in 4 of the past 5 months, FIIs were net sellers of equity due to a variety of reasons – poor monsoon, poor earnings of India Inc., possible interest rate hike in USA, poor growth in China. DIIs have been net buyers of equity in every month […]

Nifty chart: a mid-week update (Sep 30 ‘15)

Posted by on September 30, 2015 19:05 pm · 40 views

in Stock Trading

The 50 bps (0.5%) interest rate cut by the RBI Governor came as a positive surprise for the market. The consensus estimate was a 25 bps cut – and as often happens, the consensus estimate was wrong! SBI immediately announced transmission of 40 bps of the cut to its base rate for borrowers. Other banks […]

Will he, or won’t he? That seems to be the question. Experts of different hues are expecting a 25 bps (0.25%) interest rate cut by the RBI Governor. That means, there will be no positive surprise for the stock market if the rate cut does come through. There is also a possibility that the RBI […]

The following comment appeared in last week’s post on the daily bar chart pattern of S&P 500:“The index has formed a bearish ‘rising wedge’ pattern, from which the likely break out is downwards.” The index made a futile bid to rally within the ‘rising wedge’ pattern on Mon. Sep 21 ‘15 and touched the 1980 […]

Clarifications by the Finance Ministry about non-applicability of MAT for Foreign Portfolio Investors (FPIs) and Foreign companies with no permanent establishment in India failed to have much effect on the negative sentiment in the Indian market. FIIs stepped up their selling. As per provisional figures, their net selling in equities exceeded Rs 2300 Crores in […]

Nifty chart: a mid-week update (Sep 23 ‘15)

Posted by on September 23, 2015 19:14 pm · 50 views

in Stock Trading

FIIs remain wary of the economic slowdown in China and a possible interest rate hike in the USA, and is pulling out from emerging markets in a big way. India has also been affected by the global sell-off, though its economy is in much better shape than most emerging markets. As per provisional figures, FIIs […]

WTI and Brent Crude Oil charts: an update

Posted by on September 22, 2015 12:41 pm · 25 views

in Stock Trading

The daily bar chart pattern of WTI Crude oil has been consolidating sideways within a ‘symmetrical triangle’ pattern for the past couple of weeks. Oil’s price has managed to close slightly above its 50 day EMA, but continues to trade well below its falling 200 day EMA in a bear market. ‘Symmetrical triangle’ pattern tends […]

S&P 500, FTSE 100: consolidating within bearish patterns

Posted by on September 20, 2015 14:02 pm · 41 views

in Stock Trading

The daily bar chart pattern of S&P 500 climbed above the 2000 level and the falling 50 day EMA on intra-day basis on Thu. Sep 17, but formed a ‘reversal day’ pattern (higher high, lower close). That was just the signal bears were waiting for. The index dropped on huge volumes to close below all […]

The US Fed’s decision to maintain status quo on interest rates on Thu. Sep 17 – due to slow growth in China and Europe and recession in Canada – came as a big relief to India’s stock market participants. FIIs turned net buyers of equity on Fri. Sep 18, though they were net sellers of […]

Nifty chart: a mid-week update (Sep 16 ‘15)

Posted by on September 16, 2015 20:11 pm · 51 views

in Stock Trading

Inflation seems to be well under control. WPI fell for the 10th straight month to –4.95% in Aug ‘15, compared to –4.05% in Jul ‘15 and 3.85% in Aug ‘14. CPI dropped slightly to 3.66% compared to a downwardly adjusted 3.69% in Jul ‘15 and 7.03% in Aug ‘14. An interest rate cut at the […]

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