morning thoughts...
The markets continued its journey upwards despite weak and negative global cues and now enters into a resistance zone of 8450 levels.
Technically the markets are likely to remain volatile following two side moves with supports at 8290 levels and resistance at 8450 levels.
Over the last few days, we have heard several comments from the government to economists to fund managers about how India will not be affected by the crisis in Greece. Such statements are very common at these times. After all, Greece accounted for only about 0.11% of India's exports in FY15 However, it is clear the government is worried. Europe is a large trading partner. The Euro has depreciated recently against major currencies and the Greece crisis will only add to the woes of India's exporters. Sentiment is already weak as India's merchandise exports had fallen for the sixth consecutive month in May 2015. If Greece imposes capital controls, it would be an added blow.
The government has good reason to be worried we believe. The rise in US interest rates and the unfolding turmoil in Europe could result in capital outflows from India. This along with the weak export situation could impact India's forex reserves. However, we believe such an impact would be temporary. India is among the few countries in the world that offers good growth opportunities. As such we don't expect a huge reversal of FII flows from Indian markets.
Coming to the commodities markets bullions are likely to trade positive with pressure in base metals and energy.
www.astroeyes.blogspot.in
Yesterday's calls sent
Zee tv - buy at cmp 356 sl 354 targets 362 - went 366
Double bumper Idea 180 ca - buy at cmp 3.20 sl 2.50 targets 6 - booked at 5
Advance nifty - booked profits at 8380 - long from 7988
Arvind - buy at cmp 262 sl 260 targets 269- went 270
Bank nifty - buy at cmp 18125 sl 18050 targets 18300 - booked at 18290
The markets continued its journey upwards despite weak and negative global cues and now enters into a resistance zone of 8450 levels.
Technically the markets are likely to remain volatile following two side moves with supports at 8290 levels and resistance at 8450 levels.
Over the last few days, we have heard several comments from the government to economists to fund managers about how India will not be affected by the crisis in Greece. Such statements are very common at these times. After all, Greece accounted for only about 0.11% of India's exports in FY15 However, it is clear the government is worried. Europe is a large trading partner. The Euro has depreciated recently against major currencies and the Greece crisis will only add to the woes of India's exporters. Sentiment is already weak as India's merchandise exports had fallen for the sixth consecutive month in May 2015. If Greece imposes capital controls, it would be an added blow.
The government has good reason to be worried we believe. The rise in US interest rates and the unfolding turmoil in Europe could result in capital outflows from India. This along with the weak export situation could impact India's forex reserves. However, we believe such an impact would be temporary. India is among the few countries in the world that offers good growth opportunities. As such we don't expect a huge reversal of FII flows from Indian markets.
Coming to the commodities markets bullions are likely to trade positive with pressure in base metals and energy.
www.astroeyes.blogspot.in
Yesterday's calls sent
Zee tv - buy at cmp 356 sl 354 targets 362 - went 366
Double bumper Idea 180 ca - buy at cmp 3.20 sl 2.50 targets 6 - booked at 5
Advance nifty - booked profits at 8380 - long from 7988
Arvind - buy at cmp 262 sl 260 targets 269- went 270
Bank nifty - buy at cmp 18125 sl 18050 targets 18300 - booked at 18290
