Budget 2013-14: What can boost the markets today?

Budget 2013-14: What can boost the markets today?

The Finance Minister, P Chidambaram will announce Union Budget on Tuesday, February 28. It is widely expected that he will present a balanced budget. He will focus on social schemes in view of general election in the next year. At the same time he will try to avoid threat of rating downgrade by curbing spending and increasing tax receipts.

Following measures if announced in Budget will give a boost to markets:

1. Fiscal deficit below 4.8%

2. Cut in subsidies

3. Status quo on excise rates for most industries

4. Clarity on GST, DTCÂ and companies bill implementation

5. Measures to boost auto, infra, power, IT, real estate sectors

6. No introduction of new taxes

7. Incentives for exports

8. Intro of pending bills like Insurance, Pension, etc.

9. Removal of STT on stock market transactions

10. Measures to boost capital inflows in market and economy

Courtesy - http://budget.myiris.com/show_story.php?file_r=20130228085751199&sec=bu

A Big Day today!!!!!

Markets open with a strong note trading up by more than 50 points; Union Budget, F&O expiry eyed

On account of strong global cues, Indian markets witnessed a strong positive start on one of the big days for Capital Markets.

Markets are awaiting the Union Budget 2013 which will be presented by honorable Finance Minister, Mr. P. Chidambaram.

We continue our cautious bias and advise traders to trade with strict stop losses as lot of volatility can be expected on account of Budget.

As per our earlier posts,

Levels to watch out now :
Supports - 5740/30 - 5660/50 - 5570/45
Resistance - 5880 - 5920 - 5970

Happy Budget Day to all of you.....

Happy Trading and Money making

Cheers

Gold started its up move!!!!!

Hi All,

As per my earlier post, Gold started its up move, supports below 29250-200

Targets near 30300-30600-30900...



Cheers

Hrishi

Hi All,

Educomp looks positive with supports below 94.....

Resistances - 101-103-105-110

Updates on earlier recommendations-

Hi All,

From my earlier posts,

BHEL is booked profit near its first target of 211-213
CIPLA is still holding on to its SL
LT still open with SL below 1400
JP hold on to longs with strict SL below 69-68.4

Cheers

Hrishi

Currencies are as confused as the global economies!!!

Currency Update - (Levels for NSE near month Future contracts)

GBPINR - Bias is positive with supports near 82.75-82.70 and resistances near 84.10-84.4-84.90 (March contract levels) 

 
 



EURINR - Bias is sideways or basing 9consolidation) for short to mid term with the range being 73.50 to 71...

JPYINR - Bias sideways in the range of 56.70-58.70 with 56.70 to 56.50 being crucial supports....

USDINR - At resistance of 54.5 to 55.10 and trading in the overbought region, crucial supports of 54.10 and 54 on the lower side...

Cheers

Hrishi

Happy Trading!!!