morning thoughts...
Well the markets traded exactly in the same manner as illustrated , technically the coming session is likely to be volatile and choppy.
However any dip would be a buying oppurtunity for the next week.
On the lower side 7675 is a major support level for nifty futures and if the markets has to bounce and sustain , it must respect these levels.
Traders can keep a stoploss below 7675 and go long.
We move into an important week from monday with the Modi government having come into power, July 10 is the next date that everyone is interested in because that is the day when the Finance Minister Mr Arun Jaitley will announce the first Budget of the government.
In the days leading to the general elections and post the results as well, markets have rallied considerably. A lot of hopes have been pinned on the new government to deliver on a wide range of issues which its predecessor could not. And the first Budget in that sense is important because it will give a flavour of the government's agenda and its focus on reforms.
Naturally, in the days leading to the Budget, investors, corporates, households and various other parties will all have their own wishlists. And while now everyone's wishes will be granted, here are a few that need to be urgently addressed:
Tackling inflation: Inflation continues to remain a persistent headache for the Indian economy and the primary reason for this has been the surge in food prices. So it is obvious that this is an area that needs to be seriously looked at. So far, the Modi government has chosen to rely on short term measures to prevent the hoarding of vegetables particularly onions and has also raised duties to discourage exports. But as the RBI has also time and again pointed out, the focus needs to be on addressing supply side bottlenecks and announcing and implementing measures that will result in adequate and proper warehouse facilities for foodgrains.
Tax reform: This is another area where reforms are long overdue. Currently, the tax structure in India is quite cumbersome. So the focus should be on simplifying these laws. The UPA government had chosen to apply tax reforms retroactively and this in many ways proved to be its undoing because companies lost confidence in doing business in the country. For the BJP government this will be a real challenge especially since it has clearly stated its intention of reviving the business climate in the country. A roadmap to implement the goods and services tax is also something that will be closely watched.
Infrastructural revival: Fostering development and ramping up infrastructure was the ticket on which the Modi government rode on. Thus, this will be a critical area where the government will need to seriously deliver. Essentially, a lot of key projects had been stalled during the reign of the previous government and these need to be revived.
Job creation: India's plus point is its demographic dividend which means that it has a larger proportion of younger population as compared to many of its developed peers. However, there need to be jobs available that will enable these younger people to enter the workforce. More importantly, the skills sets that this young workforce acquires have to align with the requirements of industry.
Spending judiciously: This is going to be another major challenge for the Modi government. India's fiscal and current account deficit had deteriorated during the tenure of the UPA government. While there was improvement in the current account deficit numbers recently, most of it was due to short term measures such as placing import duties on gold. Ideally as far as the fiscal deficit is concerned, the focus will have to be on bolstering revenues and cutting down on non-developmental expenditure such as subsidies. But that could be easier said than done.
Astrologically major change of uranus takes place on friday
www.astroeyes.blogspot.in
Friday - weekend bonanza
Fii buy Liberty shoes
Jackpot - buy Excel crop care
Triple bumper - buy Cesc 720 ca , petronet lng 160 ca , nifty 7600 ca
Buy nifty and bank nifty on any dips
Buy gold and silver
Well the markets traded exactly in the same manner as illustrated , technically the coming session is likely to be volatile and choppy.
However any dip would be a buying oppurtunity for the next week.
On the lower side 7675 is a major support level for nifty futures and if the markets has to bounce and sustain , it must respect these levels.
Traders can keep a stoploss below 7675 and go long.
We move into an important week from monday with the Modi government having come into power, July 10 is the next date that everyone is interested in because that is the day when the Finance Minister Mr Arun Jaitley will announce the first Budget of the government.
In the days leading to the general elections and post the results as well, markets have rallied considerably. A lot of hopes have been pinned on the new government to deliver on a wide range of issues which its predecessor could not. And the first Budget in that sense is important because it will give a flavour of the government's agenda and its focus on reforms.
Naturally, in the days leading to the Budget, investors, corporates, households and various other parties will all have their own wishlists. And while now everyone's wishes will be granted, here are a few that need to be urgently addressed:
Tackling inflation: Inflation continues to remain a persistent headache for the Indian economy and the primary reason for this has been the surge in food prices. So it is obvious that this is an area that needs to be seriously looked at. So far, the Modi government has chosen to rely on short term measures to prevent the hoarding of vegetables particularly onions and has also raised duties to discourage exports. But as the RBI has also time and again pointed out, the focus needs to be on addressing supply side bottlenecks and announcing and implementing measures that will result in adequate and proper warehouse facilities for foodgrains.
Tax reform: This is another area where reforms are long overdue. Currently, the tax structure in India is quite cumbersome. So the focus should be on simplifying these laws. The UPA government had chosen to apply tax reforms retroactively and this in many ways proved to be its undoing because companies lost confidence in doing business in the country. For the BJP government this will be a real challenge especially since it has clearly stated its intention of reviving the business climate in the country. A roadmap to implement the goods and services tax is also something that will be closely watched.
Infrastructural revival: Fostering development and ramping up infrastructure was the ticket on which the Modi government rode on. Thus, this will be a critical area where the government will need to seriously deliver. Essentially, a lot of key projects had been stalled during the reign of the previous government and these need to be revived.
Job creation: India's plus point is its demographic dividend which means that it has a larger proportion of younger population as compared to many of its developed peers. However, there need to be jobs available that will enable these younger people to enter the workforce. More importantly, the skills sets that this young workforce acquires have to align with the requirements of industry.
Spending judiciously: This is going to be another major challenge for the Modi government. India's fiscal and current account deficit had deteriorated during the tenure of the UPA government. While there was improvement in the current account deficit numbers recently, most of it was due to short term measures such as placing import duties on gold. Ideally as far as the fiscal deficit is concerned, the focus will have to be on bolstering revenues and cutting down on non-developmental expenditure such as subsidies. But that could be easier said than done.
Astrologically major change of uranus takes place on friday
www.astroeyes.blogspot.in
Friday - weekend bonanza
Fii buy Liberty shoes
Jackpot - buy Excel crop care
Triple bumper - buy Cesc 720 ca , petronet lng 160 ca , nifty 7600 ca
Buy nifty and bank nifty on any dips
Buy gold and silver
