Nifty has made a triple top made on 20/Oct(5181), 03/Dec(5181) and 11/Dec(5182) which effectively means Triple top on Daily and Weekly basis and double top on Monthly basis so till Nifty doesn’t cross 5200 on sustainable basis this will be very negative for market. Sensex has behaved differently with 17493 high made on 17/Oct not tested and highs till now has been lower than previous high.
Factor to impact market:
U.S Dollar Index has started to show signs of strength currently trading above 76, which would have negative impact on Crude and Commodity stock.
Stalemate prevailed in the Andhra Pradesh political scene impacting many businesses, Pharma alone has lost Rs.400crs of production in one week and GlaxoSmithKline shuts Andhra operations temporarily would have negative impact if Government doesn’t clarify and investment planned for the state would move elsewhere.
Dubai debt deadline is near as Nakheel’s payment of bonds is due today and any default would be a negative signal for global markets.
Advance tax numbers would start to flow in next 2-3days and Fed to decide on interest rate on Wednesday would keep market edgy.
- Government performance has been abysmally low and weakness is seen in handling of policy issue as many statements are coming only to boost stock market sentiment but real implementation is missing. Reforms like Legal, Land and labor there is no start, Banking, Insurance and many pending bills are delayed unduly, Government talked about merger of Banks and RBI has put brakes and Government had to change its stance.
Nuclear deal has been the only major achievement of the Government and latest Canada and Russian agreement would benefit Indian growth in long time to come.
http://in.reuters.com/article/
http://in.reuters.com/article/
http://www.mydigitalfc.com/
The Maharashtra government’s decision not to provide water connection to high-rise buildings (above seven floors) in Mumbai till 2012 has dealt a body blow to the city’s real estate developers. http://www.business-standard.
http://timesofindia.
GlaxoSmithKline Consumer Healthcare has temporarily closed its factory in the state http://www.businessworld.in/bw/2009_12_11_Govt_Plan_To_Create_Telangana_Hits_Biz.html
GlaxoSmithKline Consumer Healthcare has temporarily closed its factory in the state http://www.businessworld.in/bw/2009_12_11_Govt_Plan_To_Create_Telangana_Hits_Biz.html
Collapse in Greek bonds is warning to eurozone http://www.ft.com/cms/s/0/3d29777a-e5f5-11de-b5d7-00144feab49a.html
http://prabhakar-views.
