Weekly Technical View by Tanmay G Purohit: * Nifty (4680) fell 52pts week on week as it consolidated between 4735 and 4576 through the week. India's economy grew 6.1 percent in the June quarter from a year earlier, roughly in line with forecasts as government stimulus helped spur demand, but a poor monsoon threatens to erode growth later in the year even as it drives prices higher. The difficult task facing RBI is the probability of inflation as India's consumer price index rose 11.89% in July Vs 9.29% rise in June. The Centre expects a shortfall of 45-50 lakh hectares (lh) in the total kharif paddy area this year but Monsson worries are starting to recede as during this week, country as a whole received rainfall 4% more than normal. For the period 1 June to 2 Sept, monsoon has been 23% below LPA against 25% last week.
http://tanmaygopal.blogspot.com/2009/09/weekly-technical-view-by-tanmay-g.html * * Tanmay G Purohit * --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
