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]