The Government decided to increase foreign investment in government securities and corporate bonds to attract capital to fund for balancing high current account deficit. The decision was taken by high level committee chaired by department of economic affairs secretary.
Asian shares were trading positive, Japans Nikkei was trading 0.80% higher, Honkong ’s shares trading up 0.52%, China’s market was trading 0.15% higher.
Nifty closed 54.85 points up at 5879.85 0.94% up, as GDP Data came on Friday. According to analyst market may take strength in this month on heavy inflow of foreign funds that Government will push through economic reforms. The market will remain in bullish trend.
Nifty Index may take Support on Monday 5680, 5674, 5667 and Resistance for Nifty is 5920, 5931, 5940. Nifty Future Index Currently in Bull trend. The Nifty Dec-12 Series was trading at 5906.15 up 36.80 points. The open interest was increasing with trend.
Nifty Future Tips
Buy Nifty Future DEC 27, 2012 above 5910.00 Target 5926.00 Stop loss 5894.00.