Today's Market, Nifty, RBI interest rate

Today’s Quote

It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong -- George Soros

Nifty Outlook

ALL TRENDS ARE UP NOW AND NIFTY TRADED WHOLE DAY YESTERDAY WITHIN THE RANGE OF 4640-4680. SOME SELLING PATTERNS DEVELOPED YESTERDAY IN INTRADAY CHARTS THEREFORE CONSOLIDATION REQUIRED FOR CROSSING YESTERDAY TRADING RANGE. AS ALL TRENDS ARE UP AND RALLY IS STRONGEST EVER THEREFORE ANY TYPE OF CORRECTION IS NOT POSSIBLE FROM SELLING PATTERNS OF ONLY ONE DAY INTRADAY CHARTS THEREFORE NIFTY WILL OPEN IN YESTERDAY TRADING RANGE(4640-4680) AND WILL TRADE FIRST WITHIN THAT RANGE AND CONSOLIDATE FOR NEXT UPMOVE. IF FOLLOW UP SELLING DOES NOT COME TODAY THEN ON GOING UPMOVE WILL REMAIN CONTINUED AND INDIAN MARKETS WILL COLSE IN GREEN TODAY.

News today

* Japan’s Nikkei 225 Average briefly reclaims the 10,000 mark for the first time since October, but as it struggles to set some roots, analysts voice caution for the near-term future of Japanese stocks.

* The economy's sharp slide eased in the late spring and hopes for future business activity improved, suggesting that the worst of the recession has passed , Fed Beige book said.
The so-called Beige Book, a snapshot of economic conditions around the US, said five of the Fed's 12 regions reported that the "downward trend is showing signs of moderating."

* China’s exports fell by a record as the global recession cut demand for goods produced by the world’s third-largest economy. Overseas sales dropped 26.4 percent in May from a year earlier, the customs bureau said in a statement on its Web site today.

* Japan’s economy shrank less than the government initially estimated as business investment and inventories fell at a slower pace. Gross domestic product shrank at a record 14.2 percent annual pace in the three months ended March 31, less than the 15.2 percent reported last month, the Cabinet Office said today in Tokyo.

* Brazil, Russia, India and China’s plan to shift some foreign reserves into International Monetary Fund bonds may be more a signal of their growing financial clout than a lack of demand for U.S. assets , Goldman says.

* Pranab Mukherji is still behind the Bankers for the interest Rates.

RBI reserve bank of India still has not fixed the interest rates they will confirm it this month after meeting.

 

*        Sensex is up by 339 points start of the day So crossed 15,000+ mark. 

 

Tags: Interest rate, market, finance, USA, world, India