AUDUSD pair is trading at highest level of decade and this is due to the data that was released today morning. We have seen the inflation in Australian economy was reported higher than expected, so this inflation may result in further interest rate hike. That is why we have seen this bounce, also the weak USD can be held responsible for the surge in the AUD price. So traders will be looking for ... [Continue Reading]
BHEL Declares its Q1 Result for FY12, Net Profit Jumps by 22% at Rs.815 crore
BHEL has declared its Q1 (first quarter) result for FY12 (financial year 12), We have seen a jump of 22% in its net profit on YoY basis. In this quarter, company's net profit jumped to Rs.815 crore versus Rs.667.7 crore in the same period a year ago. Also its net sales went up by 10% to Rs.7,190 crore from Rs.6,479.7 crore on year on year basis. We have also found that depreciation cost for the ... [Continue Reading]
Forex: USDCHF Pair Makes Life Time Low of 0.8000, More Selling Expected
The USD/CHF pair was in the down trend and we have seen the pair correcting since this week, today also we have seen about 55 pips drop in today´s session to test support at a fresh record low of 0.8000 level just before opening of the European session. USD/CHF intraday technical analysis 26 July 2011, we recommend, Open short in USDCHF below 0.8105 for target of 0.8045 and 0.8015 also place ... [Continue Reading]
Intraday Trading Analysis for Nifty Futures Today, Trading the RBI credit Policy Sell Nifty Futures, For Target 5520
Nifty futures seen deep correction just after the RBI declared its credit policy, hiking the interest rates, reverse repo and repo by 50 bps basis points and keeping the CRR cash reserve ratio unchanged at 6%. This has brought intense selling in the banking stocks like ICICI BANK, STATE BANK OF INDIA, HDFC BANK. This panic selling came from the major market participants, as this was unexpected by ... [Continue Reading]
RBI Hikes Interest Rates Today 26 July 2011, REPO and Reverse REPO Hiked by 50 bps, Banking stocks down
The Reserve Bank of India (RBI) has hiked its key interest rates, repo and reverse repo rates by 50 bps (basis points). Market has expected the hike by 25 bps and this has given a shock to the market participants. The rate hike has taken the reverse repo to 7% and the repo rate to 8%. Also RBI has kept the cash reserve ratio (CRR) unchanged at 6%. Seeing this the markets has reacted badly, we ... [Continue Reading]
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