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Well to start with, I am extremely sorry for not updating the blog for sometime now due to my professional commitments. The regular readers must have not liked this.Anyways I am back again to start and move on. So many things happened in the last few days since I was away from the blog. But as always I had kept in touch with all the latest developments around the world effecting Indian Economy and our stock markets especially the financial situation in USA.
Coming to the internal factors, after almost 3 months we saw the inflation figures cooling down and coming below the psychological 12% mark. For the week ending Sept 20th the inflation has come down to 11.99%. The figure stood at 3.5% in the corresponding period last year. The RBI is going to review its credit policy on Oct 24th,2008. Some measures may be taken given the credit crunch and the financial situation pertaining in USA.
The Indian stock markets are reacting a lot to the news from the USA. As I said earlier in a post,if the Dow falls below 10,750 mark, then we can see a further fall and it came very well true and it touched almost 10,300 levels in Dow and also the Indian markets made a new yearly low some time back. In fact Dow fell by 157 points on Friday last to close at 10,325 levels. So we can still expect the Indian markets to go down from here on.
Sensex fell by 529 points on the last Friday to close shop at 12,526 levels and nifty is at 3,818 levels currently. In the coming days we may see 4,100 levels in the nifty. Some of the stocks like Infosys Technologies, RIL,JP Associates,Punj Lloyd look very good at this levels and can be accumulated for short term trading. I’ll try and bring some more latest happenings and their impact on the Indian share market shortly and trading strategies.
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