He came in at a time when the rupee, in a free fall, had depreciated to 68.80. A year on, since taking charge as the Reserve Bank governor on September 4, Rajan has managed to stabilise the currency at 60-61and stayed focussed on his inflation targeting approach. Although Rajan, in his words is “not a James Bond,” his feat is no less than that of 007 for which he has found many admirers. Here are some voices who admit the governor’s accomplishment deserve a good rating on a scale of 1-10.
C Rangarajan, former chairman, PMEAC: Close to 10 out of 10. Rangarajan believes Rajan has done extremely well on the BoP and rupee front. He agrees with Rajan’s approach that the dominant objective of monetary policy is price control.
Sonal Varma, India Economist, Nomura Financial Advisory & Securities: 9-9.5 out of 10. Varma says Rajan deserves credit for creating nominal anchor and framework for monetary policy – on moderating inflation fast which is quite encouraging, which led to stability in the external sector, value of rupee.
Duvvuri Subbarao, former governor, RBI: After Rajan completed 10 months, Subbarao said his successor Rajan deserves an “A+” grade for his performance. He in fact added, if there is anything beyond [A+], I would give it to him. He’s been able to [apply] his scholarship of finance to practical situations. He’s doing very well. “There’s no doubt from his decisions and actions over the last 10 months he is doing what is right,” he further said.
NIFTY FUTURE Closed : 8069.40
Yesterday Nifty Future opened gap up and made a high of 8075
Made a low of 8016.35 and Closed 8069.40……
Yesterday we gave Sell call at 8052 and Stop-loss triggered 8065
Fii’s sold just 45 crore in Index Future!!!
Today’s Nifty Future facing Resistance 8085 & 8105 levels
If crossover 8105——– with volume then will take Resistance at 8135
NF Topout will happen…….. Yes, minor correction will be expected
Don’t jump & buy at higher levels!!!
Today’s Supports 8050 & 8035 levels…….. Thereafter will check 7980 levels
101% Live market update to our clients only…….
Updated : 08.45am / 02nd Sep’14
Banknifty Future closed : 16112
BANKNIFTY Future Consider Resistance 16170 & 16210 levels
If breaks 16210………… with volumes will move 16350 levels
Higher level stay caution!!!
Today’s Supports 16030 & 15900 levels……..
More live market update to our clients only
All are Enjoyed or not in Indusindbank ??
Recommend strong breakout at 587………… Fire upto 610 levels
Again can buy Target of 625 & 630 levels!!!
AXISBANK now Ready to move
Yes, Closely watch on 409………. if cross will kiss 413, 416 levels
Updated : 08.42am / 02nd Sep’14
PETRONET near by strong Breakout level
Breakout at 190, Once if breaks the level
Will see Rally up to 194, 196 Thereafter 202 levels
IOC trading near by Strong Resistance level
Resistance at 385, Once if Breaks the level
Will move 390, 395 There after will check 405 levels
NIITTECH now near by Strong support level
Once if breaks Supports……. Free Fall will continue
Which level will breaks??
Clients special call
RAYMOND last Two session we have wrote Breakout at 470
After crossed 470……… Rocked 478 levels
Today also can buy around 472
Expected Target 483, 490 and keep stop-loss of 467
XXXX BUY ABOVE 310 TARGET 315,318
Clients special call……….
( Yesterday’s Guess call :Not activated )
Updated : 08.37am / 02nd Sep’14
Country’s second largest airline by market share, SpiceJet today launched yet another limited period special fare scheme, ‘Early Bird’, offering customers ticket prices as low as Rs 499 on its domestic network.
The bookings for this three-day offer commences from today with a travel validity period between January 16 and October 24 next year, SpiceJet said in a release. SpiceJet offers discounted flying options to destinations across the country, with one way fares starting as low as Rs 499 (including fuel surcharge but excluding applicable statutory taxes and fees), the release said.
This sale will allow customers to enjoy low fares by planning their journey and holidays in advance. The sale offer is applicable on all direct, via and connecting flights on SpiceJet’s domestic network. “While the number of travellers opting for air travel during holidays has increased over the years, with the introduction of Early Bird sale, this number will only grow further.
This early bird sale will encourage customers to make their holiday plans well in advance and save on travel costs at the same time,” said Kaneswaran Avili, Chief Commercial Officer, SpiceJet Ltd. “This will also allow an average Indian customer to plan for more than the typical one holiday during the year at never before rates,” Avili said. Last week also, the Kalanithi Maran-promoted budget airline SpiceJet had announced a similar discounted scheme offering passengers fares starting Rs 1,888 across its domestic destinations. The airline operates more than 340 daily flights to 49 destinations, comprising 41 Indian and 8 international cities.
Nifty Future shown strong strength and trading above 8000 mark
Now NF marked high of 8062 & currently trading at 8055
Closely watch on 8065 levels……….. After 2.30pm if sustains above the levels
Will check 8090 & 8110 levels……..
Suppose if not breaks 8065 & if breaks 8040………. we see 8000 mark!!!
More update to our clients only
Updated : 02.20pm / 01st Sep’14