The Indian economy grew with just 5.3% in the fourth quarter, this is first time GDP data has fallen to 5.3% level after 2003, making a nine year low. Also shocking news after the data release was the RBI is still not expecting rate cuts as inflation still remains important concern. The services sector is the largest contribution to GDP, it grew at 7.9% against 10.6% last year. Services sector ... [Continue Reading]
Chinese GDP data, Why Nifty future will trade lower this week
We are predicting that nifty future is going to trade lower this week, here is the main reason behind our analysis. On Friday, Chinese real GDP data is due to be released, previously this number was 9.2% but as last financial year was full of slowdown and global worries we are expecting this number to be around 8.4% or even 8%. This will be a huge gap for market expectation and hence we will be ... [Continue Reading]
GDP Data Released Today, Whether to Buy or Sell Nifty Future
GDP data has been released today and we have seen big selling just after the releasing the data. Street was expecting a figure around 7.5% but data that came in was at 6.9%, a way below expectations. Lots of short positions on nifty future were added to open interest in today’s trading session. Nifty Put options have seen huge unwinding of position, hence hinting further fall in nifty future. ... [Continue Reading]
UK Released Weak GDP Data: Short Sell GBPUSD, Bearish for Medium Term
Today UK has released its Q4 and annual GDP numbers, we saw UK's economy slowing in its last quarter of FY11-12. The data that came out was -0.3% QoQ basis and 0.5% YoY basis as compared to -0.2% QoQ and 0.7% YoY previously. We may see under-performance in GBP currency in forex market, so taking view of medium term we advice forex traders to take short positions on GBPUSD around 1.595 level for ... [Continue Reading]
Indian Economy Grew at 8.9% in July-September 2010 Quarter (Q2)
The domestic equity markets settled higher today, tracking robust gross domestic product (GDP) data for the July-September 2010 quarter (Q2). The Indian economy expanded at 8.9% during Q2FY11 against the street expectations of around 8-8.5%. Though global cues were not very encouraging in trade today, but the markets managed to show smart recovery during the session after release of the GDP data. ... [Continue Reading]