Looking at the Gold charts we see that rally has started from the 1480 level and is continuing, Since then the price action has made the series of higher high and higher lows suggesting us the strong uptrend. This has created a rising trend line, So we see further strengthening in short from here. This makes the short term trend to bullish and also same for the medium term. Today’s trade is ... [Continue Reading]
Trading Nifty Futures level on 13 July 2011 sell below 5568 for target 5528
Nifty futures yesterday didn’t manage to close above its strong resistance level of 5568. So we saw this selling pressure continuing and taking nifty futures to the lower levels of 5518 for intraday trading view. The mood of market participants is looking bearish especially the FII, as they have been selling continuously in equities. Also looking yesterday’s F&O open interest data we see that ... [Continue Reading]
May 2011 industrial production growth has slow down, comes by 5.6%
Industrial growth has slowed down in the month of May. Index of Industrial Production (IIP) has come in at 5.6% on a year-on-year basis. However, market participants has expected it to be at 8.6%. So a much lower numbers of industrial production. Manufacturing sector has seen a growth of 5.6% in May. During April-May, industrial output grew 5.7 % from 10.8% in the year ago period. This weak data ... [Continue Reading]
Trading IIP Data Nifty Futures for 12 July 2011: sell below 5570 for Target 5508
Nifty futures is trading lower about 64 points, at 11:02 AM today. But the price action is suggesting some fresh selling just after the IIP number for MAY 2011 we saw very weak number from MAY IIP data. Soon the selling followed just after the release of IIP numbers. Also Nifty has broken the strong support of 5569 level and we are sure that selling is likely to follow and will be pulling the ... [Continue Reading]
Infosys declared its Quarter 1 results, net profit down 5.4%
India’s second largest software exporter Infosys Technologies Ltd. has declared its Q1 result for FY12, the net profit stood at Rs.1,720 crore i.e down 5.4% as compared to Rs.1,818 crore in the previous quarter. The total revenues for the quarter ended June 2011 was Rs.7,485 crore. Also other income increased to Rs.443 crore from Rs.415 crore, however it was a marginal increase. EBIT margin for ... [Continue Reading]
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