Bulls & Bear Hfund of India

Hi Friends, In my last post around 5200 I mentioned about a Fierce Rally to 5800 and higher based on the observation of Elliott Wave Pattern and the implication of similar pattern in 2011. Within no time Nifty Rallied to 5957. It Almost re trace 78.6% of the Entire Fall from 6229-5118. So what next? As mentioned in my last post this Fierce Rally seems to be a corrective Bear Market Rally. As per my preferred count Nifty seem to have completed (x) Wave at 5957. Now it shall resume the downtrend and may witness a Huge Sell off sub 5000 in next 2-3 months in Wave. ifty has Trendline and Fibonacci Resistance at 5991 and upside if any looks limited. Current pattern is similar to 2011. RSI is showing Hidden Divergence which is early indication of possible Trend Reversal. In 2011 too Nifty Retraced around 78.6% of the previous  Fall in (w) Wave  and Developed Hidden Divergence on RSI around 4945 in April 2011. Later Nifty fell badly towards 4700 in...

Gold prices extended Friday's losses into Monday as investors continued to avoid the precious metal after a key Federal Reserve official said that monetary authorities may consider tapering stimulus programs in October. The commodity skyrocketed last week after the Federal Reserve announced it would continue to stimulate the U.S. economy with its USD85 billion monthly bond-buying program. Ultra-loose monetary policies that include asset purchases drive down interest rates to spur recovery, weakening the dollar in the process and making gold an attractive hedge. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,325.50 during U.S. afternoon hours, down 0.53%. Gold prices hit a session low of USD1,313.60 a troy ounce and high of USD1,331.80 a troy ounce. Gold futures were likely to find support at USD1,291.70 a troy ounce, Wednesday's low, and resistance at USD1,375.10, Thursday's high. The December contract settled d...

Moody's Investors Service has downgraded State Bank of India's senior unsecured debt and local currency deposit ratings to Baa3 or lowest investment grade rating from Baa2 and changed the outlook on SBI's financial strength rating to negative from stable as the economic slowdown puts pressure on the bank's credit quality. The revis ed ratings is on par with Government of India's (Baa3 Stable) foreign currency bond rating. Moody's said the combination of increasing pressure on credit fundamentals and the ongoing reliance on the fiscally constrained Indian government to maintain capital adequacy ratio are factors behind the rating downgrade at a level no higher than the sovereign. The outlook for SBI's senior unsecured debt and local currency deposit is however stable. The global rating firm has in the last week of August lowered its outlook for India's GDP growth to 4.5% from 5.5%, reflecting the recent depreciation of the rupee, whic...

Gold prices skyrocketed on Thursday, one day after the Federal Reserve announced it would continue to stimulate the U.S. economy with its USD85 billion monthly bond-buying program. Ultra-loose monetary policies that include asset purchases drive down interest rates to spur recovery, weakening the dollar in the process and making gold an attractive hedge. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,366.50 during U.S. afternoon hours, up 4.50%. Gold prices hit a session low of USD1,358.70 a troy ounce and high of USD1,375.10 a troy ounce. Gold futures were likely to find support at USD1,291.70 a troy ounce, Wednesday's low, and resistance at USD1,393.80, the high from Sept. 8. The December contract settled down 0.14% at USD1,307.60 a troy ounce on Wednesday. The Federal Reserve on Wednesday concluded a two-day monetary policy meeting and made no changes to its USD85 billion bond-buying program, much to the ...

U.S. stocks finished Monday largely higher after former U.S. Treasury Secretary Larry Summers withdrew his name from the short list of candidates to replace Ben Bernanke has chairman of the Federal Reserve Market participants had viewed Summers as more of an inflation hawk over other frontrunners, especially current Fed Vice Chair Janet Yellen, whom markets feel will keep policy loose to prioritize job creation via stock-market gains over keeping inflation in check if appointed. At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.77%, the S&P 500 index rose 0.57%, while the Nasdaq Composite index fell 0.12%. Summers, widely considered to be President Barack Obama's top choice as head of the Fed, bowed out of the race over the weekend, which dampened expectations for a quicker end to monetary stimulus programs. Investors feel Yellen will stick with Bernanke's loose policies including the Fed's USD85 billion in monthly asse...

U.S. stocks shot up on Monday after the prospects for an imminent U.S. attack on Syria began to fade, while sentiments that Federal Reserve stimulus measures may stay in place boosted spirits as well. At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.94%, the S&P 500 index rose 1.00%, while the Nasdaq Comp osite index rose 1.26%. U.S. President Barack Obama is scheduled to address the U.S. on Tuesday and press the case for an attack on Syria, though sentiments that he will face a tough sell in the U.S. House of Representatives allayed fears that military strikes will engulf Syria's oil-rich neighbors into the conflict and create global geopolitical unrest. Also silencing the war drums, Syrian ally Russia proposed earlier that Syrian President Bashar Assad put up his alleged chemical weapons cache under international control, which sent stock prices gaining as did sentiments that the Federal Reserve won't rush to dismantle stim...