Recommendation of Postponement of GAAR by three years by expert committee will lift nifty to 5500 and above within 90 days
The expert committee on General Anti Avoidance Rules (GAAR) today recommended postponement of the controversial tax provision by three years and abolition of capital gains tax on transfer of securities.As a step towards reassuring global investors, the Committee in its draft report, suggested that GAAR provisions should not be invoked to examine the genuineness of the residency of entities in Mauritius.Mauritius is the most preferred route for foreign investments because of the liberal taxation regime in the island country. India has a double taxation avoidance treaty with Mauritius.
last week it was posted ... we can expect nifty range for next week 5270- 5520 and Nifty traded between 5239 to 5399 before settling at 5258.more over it was indicated that "try to locate at nifty weekly chart - The Shooting Star is a bearish reversal pattern ..and we saw reversal in trend and sell off was noticed in entire week http://www.dhanvarsha.in/2012/08/possible-nifty-range-for-week-ending-31.html
Profit booking seen after spotting of shooting star now closed at 10 WMA if it will break then next possible support will be 5162 .
Possible range for week ending 07 Sept 12 will be 5200 - 5429 extended to 5162 down side and5500 towards higher side.
