NDPMS Wealth Management

Bank Nifty futures closed at 15682 level with daily momentum indicators pointing towards a positive direction. For Nifty to breach its short term 8000 resistence, upmove by bank nifty and its constituents is very important. With the shrunk premiuims at 8000 Nifty call options, one may easily suggest that market movers are not in much favor of such an upmove. Volumes suggest the other way around. Its a tough call to make hence it shall be suggested to buy carefully with a relatively short up move near the strong resistence level till the expiry. Banks like SBI, ICICI Bank, PNB, Bank India performed according to the expectations. How ever the surprise package came from Bank Baroda which too made an upmove even after a weak chart. CAution is the word while trading with banks at the moment. Let the moves become clear and subtle. NTPC on the other hand has pulled attention by retracing upto 61.8% of its previous wave. One may buy at these levels and enjoy Nifty breaking all barriers in...

It is that, one horizontal trend line that an active trader in any market would love to see on a technical chart. Bank Nifty at the moment is staring at an important resistance level which separates it from new all time highs. Volumes too appear to be good and in favor of a break out to the upside. Daily momentum indicators too are building up good signals that indicate a big up move is around the corner. The time band I am here referring is till the 9 month expiry in the Indian markets. The bank Nifty is roaring to go, yet has shown some signs of weakness which may not force banknifty to make lower levels any lower than 4 % from current market levels. Probably I know the reason too. Each member in a team is important and has to perform in random with the other players in the pool and the problem lies when the team captain has kept itself as a reserve in the current rally by the team, With 24.89 % weight in bank nifty, India's largest PSU bank leads this team. SBI is still due...

June 05, 2014 With market expectations so high for action, the European Central Bank has no choice but to loosen its monetary policy on Thursday, economists said. Economists expect the central bank to cut its main refinancing rate by 10 or 15 basis points — bringing the rate down to 0.15% or 0.10% — and to introduce a negative deposit rate of 0.1%. Additionally, economists also expect the ECB to stimulate more lending by creating a new long-term refinancing operation. Some economists also believe there is the possibility that during the press conference, ECB President Mario Draghi will keep the door open for outright quantitative easing and asset purchases later in the year. The only option the ECB doesn’t have is to do nothing, they said. René Defossez, fixed income strategist at Natixis, said since the May monetary policy meeting, central bank members “have made a lot of promises,” which have helped push the euro down against the U.S. dollar, easing some of the pr...

RBI Policy impact on ICICI Bank technical daily chart !! Reserve Bank of India Governor Raghuram Rajan has kept interest rates unchanged at 8  % in his first post Modi win monetary policy. However the SLR ratio has been cut by 50 basis points which means that bank would be able to infuse more money in the economy by increasing their lending capabilities. SLR suggest to amount that the commercial banks require to maintain in the form of govt approved securities or gold before lending credit to its customers.