June IIP seen rising for third month, inflation still high
Industrial production in India probably expanded for a third consecutive month in June driven mainly by solid growth in infrastructure output, a Reuters poll showed.
Factory output in June likely rose 5.4 percent from a year earlier, faster than the 4.7 percent growth in May, according to a poll of 27 economists. “India’s core sector growth touched 7.3 percent year on year in June supported by a significant pick-up in electricity, cement and coal production”, said Rupa Rege Nitsure, chief economist at Bank of Baroda.
The infrastructure sector accounts for almost 40 percent of India’s industrial output. If confirmed, this would be the strongest expansion in industrial production in 19 months, welcome news for the newly-elected government led by Prime Minister Narendra Modi. Economists in the poll also predicted that July inflation would be almost unchanged from a month earlier even as weak monsoon rains and political turmoil in Iraq were expected to push food and fuel prices up significantly.
Wholesale price inflation likely eased to 5.10 percent from 5.43 percent the month before, while consumer price inflation, the key indicator adopted by the Reserve Bank of India to measure price rises since April, probably gathered pace to 7.40 percent from 7.31 percent in June.
The mixed inflation data will plausibly see the RBI maintaining status quo on rates for longer. Governor Raghuram Rajan last week kept policy rates unchanged saying “upside risks to the target of ensuring CPI inflation at or below 8 percent by January 2015 remain” and underlined his resolve to lower inflation to 6 percent by 2016. “Food inflation will go up quite materially due to scant rains,” said Ashutosh Datar, economist at IIFL Institutional Equities.
Nifty Future trading at very Range!!!
Morning on-wards Nifty Future trading very Range only
Marked low of 7616 & High of 7651………. currently trading 7635
Don’t trade in this Range Market!!
But closely watch out our Resistance level 7660
If you want to create shorts at higher level keep a stop-loss of 7660
Or if crossover 7660 with volumes……… will spurt up to 7700 levels
Updated : 02.10pm / 11th Aug’14
ADANIENT 480ce Rocked…. Recommend at 14 now 19….
We have Recommend ADANIENT 480ce at 14 Target given 20
Now Rocked 19……….
Rs 5 Profit per lot……….or Rs 5000 Profit per Lot
How is our Blasted Call!!!!
Updated : 12.32pm / 11th Aug’14
Nifty 7600ce Booked Profit at 110….. Bought at 82
Friday we have Recommend NIFTY 7600CE at 82
Today opening bell we have sent alert to Book Profit at 110……….
Overnight Rs 28 profit per Lot!!!!
Week start with Profit…….
Updated : 11.19am / 11th Aug’14
Jindal family close to buying Italy’s Lucchini: Italy PM
A company run by India’s billionaire Jindal family is close to finalising a deal to buy insolvent Italian steelmaker Lucchini, Italy’s prime minister Matteo Renzi said on Sunday.
Lucchini, formerly owned by Russia’s Severstal, was declared insolvent in 2012 and placed under special administration after falling victim to plunging European demand for steel during the 2008 recession. “Jindal should finalise. It’s a matter of days,” Renzi said after being asked about Piombino, Lucchini’s main production site, during a visit to a Catholic scout group in Tuscany.
Renzi did not specify whether he was referring to Jindal Steel and Power or JSW Steel, respectively owned by brothers Naveen and Sajjan Jindal. In April sources with direct knowledge of the matter said Jindal Steel and Power and JSW Steel were in competing talks to buy parts of Lucchini.
Italian media have said Lucchini could be sold for a symbolic one euro. Indian newspaper Mint said in July JSW Steel had offered to buy parts of Lucchini. A source close to JSW said on Sunday that talks were progressing quickly. “Work is going on in full swing,” the source said after Renzi’s comment. “(I) can’t say if it’s a matter of days but surely things are moving fast.” JSW joint managing director Seshagiri Rao did not immediately respond to a request for comment.
A spokeswoman for Jindal Steel and Power had no comment to make. Spokesmen for Renzi and Italian industry minister Federica Guidi were unable to say which company the prime minister was talking about or give more information. Italian labour union FIOM-CGIL said last month that the world’s biggest steelmaker Arcelor Mittal was considering making a bid for Lucchini.
11th Aug’14 Nifty Future Update…… hold 7600ce
NIFTY FUTURE Closed: 7592
Friday Live Market (01.36pm) we have written Boldly below messages
Nifty Future strong support at 7545 (Spot 7530) Bounce back will be expected in this level
Same time we have Recommend Buy Nifty Future at 7563 and 7600ce at 82
Hold our Positions………….
While updating SGX Nifty trading at 7640 and +52 points!!!
You know Friday FII’s selling figure was Rs 2700cr in Index Future
Today’s Nifty Future facing Resistance 7610 & 7625 levels
Major Hurdle and Resistance at 7660 levels…………
Suppose if trade above 7660 levels and Stays above 15 minutes
Will move 7685 & 7710 levels…….
But higher level stay caution!!!!
Today’s supports 7565 & 7545 levels………. (Nifty Spot 7530)
Once if Breaks 7545 and stays below the level……… Free Fall on the card!!!
Next support 7470 levels!!!
101% Live market update to our clients only…….
Updated : 09.00am / 11th Aug’14
11th Aug’14 Banknifty Future Levels
Banknifty Future closed : 14820
Today’s Banknifty Future facing Resistance 14875 & 14950 levels
If crossover 14950——— Then will move up to 15040 levels
If comes higher can sell………. with stop of ??
Today’s Supports 14755 & 14700 levels there after more panic on the card up to 14550 levels
More live market update to our clients only
Down side support 78.50 & 75 levels…….
Ultimate Target 67.50
BankBaroda Magic figure 855
Closely watch on this levels……..
Bulls keep stop-loss 855……….
Bears Ready to sell if breaks 855……….
Updated : 08.52am / 11th Aug’14
11th Aug’14 Hot Calls
JUBLFOOD
All are Enjoyed in JUBLFOOD ??
Sell call JUBLFOOD Fut at 1190 and Crashed 1105 levels……..
Again closely watch on 1102 levels
Once if breaks………. We see another Fall 1090, and 1060 levels
PFC
PFC considering Strong support at 256 levels
If breaks the level………
Fall will be expected upto 253 and 249 levels
Keep tight stop-loss ??
DLF
DLF Strong support at 190
If not break the level……… No problem for Bulls & hold
Suppose if breaks……. Bears have upper hand!!!
GUESS…..
Today’s GUSS………
XXXX SELL BELOW 202 TARGET 199,197
STOP-LOSS 204
Clients special call……….
Updated : 08.39am / 11th Aug’14
CBI investigates IDBI Bank loan to Kingfisher Airlines
After its recent crackdown on Syndicate Bank – where the Central Bureau of Investigation, or CBI, arrested its chairman and managing director SK Jain in an alleged bribery case – the CBI has now shifted focus to IDBI Bank and Kingfisher Airlines .
The CBI has registered a preliminary enquiry against IDBI Bank for sanctioning a loan to debt-laden Kingfisher Airlines. The investigating agency is enquiring as to how the bank approved a Rs 950 crore loan to Kingfisher Airlines considering the company’s negative net worth and credit rating.
CBI sources say: “IDBI Bank did not need the exposure when other bank loans were stressed.” Sources also add it was the first exposure to the bank. State Bank of India and several other banks have exposure totaling Rs 6,500 crore in Kingfisher Airlines.
The loans granted by SBI to KFA is also under the scanner. Kingfisher Airlines stopped operations from October 1, 2012.