morning thoughts...
Well the markets traded exactly as mentioned and surpassed the crucial levels of 8600 on nifty front.
Technically the markets are still up and some profit booking on higher levels is expected and any dips could be an oppurtunity to create longs.
Well the markets traded exactly as mentioned and surpassed the crucial levels of 8600 on nifty front.
Technically the markets are still up and some profit booking on higher levels is expected and any dips could be an oppurtunity to create longs.
Now whether the RBI will cut
interest rates is something we will come to know on December 2. But that has
not stopped it from bringing about some changes in the way banking is done in
the country. Indeed, if one takes a closer look at its new rules, even telecom
companies such as Bharti Airtel and Idea Cellular can become banks. Not just
them, banking activities can be carried out by India Post and Indian Railways
as well.
How is that possible? RBI essentially has come out with new rules for the entry of small finance banks and payment banks. Now the guidelines for the latter have received a tepid response. This is because for the business of payment banking to become effective, the transactions would need to be very high.
That said, telcom companies, retail chains and the like can form joint ventures for payment banks. And this is being seen as a welcome step. Just to clarify, a payments bank can undertake most operations that a normal commercial bank would. However, it cannot offer loans and credit cards. Further, certain other terms have also been outlined by the RBI with respect to payment banks.
Small finance banks will be allowed to carry out all operations of a bank but on a smaller scale. This is an opportunity for NBFCs, micro finance companies and local area banks to obtain licenses for small finance banks and then steadily grow into larger banks later on.
With Dr Rajan at the helm, the RBI had already caught the interest of corporates and investors when it had earlier announced the issuance of new banking licenses. Now with these latest set of guidelines, the RBI certainly wants to reform the country's banking system. At the same time, it will need to ensure that it continues to follow prudent practices which essentially prevented Indian banks from facing the kind of crisis that its global counterparts did.
How is that possible? RBI essentially has come out with new rules for the entry of small finance banks and payment banks. Now the guidelines for the latter have received a tepid response. This is because for the business of payment banking to become effective, the transactions would need to be very high.
That said, telcom companies, retail chains and the like can form joint ventures for payment banks. And this is being seen as a welcome step. Just to clarify, a payments bank can undertake most operations that a normal commercial bank would. However, it cannot offer loans and credit cards. Further, certain other terms have also been outlined by the RBI with respect to payment banks.
Small finance banks will be allowed to carry out all operations of a bank but on a smaller scale. This is an opportunity for NBFCs, micro finance companies and local area banks to obtain licenses for small finance banks and then steadily grow into larger banks later on.
With Dr Rajan at the helm, the RBI had already caught the interest of corporates and investors when it had earlier announced the issuance of new banking licenses. Now with these latest set of guidelines, the RBI certainly wants to reform the country's banking system. At the same time, it will need to ensure that it continues to follow prudent practices which essentially prevented Indian banks from facing the kind of crisis that its global counterparts did.
India's GDP growth has come
a long way since the country adopted the democratic government system in 1950.
Naturally, for a growing economy such as ours, demand for fuel and energy also
increased.
Right now, India imports around 70% of the fuel that it consumes. This then has an important bearing on the trade balance of the country and the way the exchange rate pans out. What more, this also makes India vulnerable to how the international crude prices behave. The longer term solution is to make India self sufficient when it comes to energy. But is that easier said than done
Right now, India imports around 70% of the fuel that it consumes. This then has an important bearing on the trade balance of the country and the way the exchange rate pans out. What more, this also makes India vulnerable to how the international crude prices behave. The longer term solution is to make India self sufficient when it comes to energy. But is that easier said than done
Astrologically 5 major planets comes in line on 1 december after 35 years , multi mega effect on equity and commodity markets , 1-5 december considered as best period for conducting auspicious activities which were pending from past many months.
Fridays calls sent
Convert 15k into 35k Hpcl 600 ca - buy at cmp 9 sl 6 targets 35 - booked at 32
Jackpot Bpcl - buy at cmp 745 sl 735 targets 780 - went 785
Double bumper Sbi 310 ca- buy at cmp 11 sl 8 targets 21 - booked at 20
Double Bumper Indus ind bank 730 ca – buy at cmp 25 sl 20 targets 45 - booked at 40
Jet airways - buy at cmp 297 sl 292 targets 320 - went 322
Pfc – buy at cmp 302 sl 299 targets 310 - went 314
Fii Stride arcolabs - buy at cmp 805 sl 790 targets 850 - went 848
Advance Nifty – booked profits at 8650 - long from 8297
Bank nifty - booked profits at 18650 - long from 17900
