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Informed Investor
India’s Investment & Financial Weekly, Informed Investor is a weekly tabloid newspaper released in Mumbai every Saturday morning for the forthcoming week. Based on the closing prices of the week, Informed Investor reaches other major centres and upcountry readers over the weekend before the opening of the markets next Monday. Featuring seasoned market experts, Informed Investor has surpassed all other media in reading corporate moves or recommendations by our experts technical analyst, which have been accurate. |
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DIFFERENT STROKES
So, bloodbath in markets continue caused by weakening Indian economy, recession in Spain, declining corporate profits and frauds by several promoters. Globally, Greece has been downgraded to CCC. In Spain, 16 banks have been downgraded by Moody and Spain is slipping into recession. It looks as if Greece type contagion may spread to Italy, Spain also.
Regarding domestic situation, this writer had been repeatedly pointing out that growth of Indian economy was purely driven by large population's rising consumption. Contribution to India's growth story from our septuagenarian and Octogenarian politicians has been minimal.
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TECHNICAL VIEW
EXPECTING RBI ACTION… BUT…
The picture is not much different from the last week, except for the fact that finally the fall has stopped and on Friday the markets bounced by over 2 % to close higher after a long time. This is nothing else but a relief rally and should not be mistaken as an opportunity for long term buying.
As given in the last article, Nifty took support just below the 4780 bull gap, and bounced to close over 100 points higher from the day’s low.
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