Dhanvarsha: Nifty may trade at or below 5k .....say in a week or 2 ..

Friday, October 14, 2011

Nifty may trade at or below 5k .....say in a week or 2 ..

20 plus points Nifty sell call...

kailash123p (10/14/2011 11:52:50 AM): sell nifty below 5108 sl 5121 tgt 5083 5065

From 5084 ..nifty retraced almost 100 % to 5121 and after consolidation short covering lifted it to 5150...

open interest decreased by 170500 .volume was low compare to previous 2 sessions..Asia was tradaing weak ...

Monthly inflation was not too gud..

kailash123p (10/14/2011 11:48:58 AM): INFLATION FOR SEPT AT 9.72% VS 9.78% (MOM)

India's inflation remained stubbornly close to double-digits in September, and economists on Friday said a 13th rate hike loomed despite a slowing of Asia's third-largest economy.

The Reserve Bank of India has raised interest rates 12 times since March 2010 -- the most aggressive tightening pace of any central bank globally -- and will decide whether to hike interest rates again at a meeting on October 25.

Annual inflation, measured by the closely watched Wholesale Price Index, fell marginally to 9.72 percent in September from its August level of 9.78 percent, data showed.

But it was still significantly above the central bank's comfort zone of six percent.

"Another rate hike looks likely in view of persistently high inflation. The downside risks to growth are rising, but inflation is offering no comfort," Crisil ratings agency chief economist D.K. Joshi told AFP.

India's figures coincided with the release of China's key inflation measure which remained elevated in September at 6.1 percent.

http://www.google.com/hostednews/afp/article/ALeqM5ixII8AOL9NwdwR--jKJ_JAj_X6tw?docId=CNG.90819ee27cf4a010878467cfb74b4367.8e1

so nifty may trade at or below 5k .....say in a week or 2 ..

kailash123p (10/14/2011 5:50:06 PM): Nifty may slip to 4900-5000, book profit: Ambareesh Baliga http://www.moneycontrol.com/news/market-outlook/nifty-may-slip-to-4900-5000-book-profit-ambareesh-baliga_599254.html ..