India Interim Budget 2009 and Stock Market Impact
The government in its interim budget has given the importance to infrastructure investment and it is being tried to raise the investments in Infrastructure to 9% of GDP by 2014. Interim budget did not bring any cheer for the market and last hope of increasing the income tax limits to boost spending was also dashed. Thus, those earning between Rs 1,50,001 and 3,00,000 a year will continue to pay 10 per cent income tax. The I-T rate remains 20 per cent for those earning between Rs 3,00,001 and 5,00,000 and 30 per cent on income above Rs 5,00,000. The exemption threshold for women assessees remains unchanged at Rs 1,80,000 and Rs 2,25,000 for senior citizens. However one need not lose hear as tax payers can get a tax break when full budget will be presented in the month of June 2009 post elections. The budget has also given support to agricultural sector as agriculture credit has been increased by three fold to Rs 250,000 crore. Moreover fertiliser subsidy has been increased by Rs 44,863 crore from about Rs 14,000 crore (Rs 140 billion) during 2008-09. Indian stock market is showing the signs of bearishness and thus one has to trade with caution as market can retest Nifty 2500 levels. BSE Sensex support exists at 9178-9049 and Sensex resistance exists at 9445. NSE Nifty support exists at 2860-2870-2810-2790-2779 and Nifty resistance exists at 2890.
Share Tips India Results
M&M profit is Rs 945, Maruti Profit is Rs 1000, Dredging corpn gains were Rs 150, Colgate returns were Rs 300 for every 100 shares traded as per the given tip. ACC, Adlabs and Crompton Greaves did not reach the entry price and thus day traders did not enter in the trade.
Day Trading Tips with Technical Analysis Correctness
Buy Maruti>625.1,639 sl 619.8
Buy M&M>318.1,320,330 sl 313.9
Buy Crompton Greaves>135.1, 138.6,140 sl 132.9
Buy Colgate>435.1,445 sl 432.8
Buy ITC>182.1,183.7,186 sl 178.8
Profitable Future and Options Tip
Strong Futures
WWIL, Renuka, Amtek Auto, Edu Comp, BEL, ACC, M&M, Maruti,Hero Honda & India Info
Weak Futures
GDL, EKC, Aban, Tulip, HDIL, DLF, Punj Lloyd, Wel Guj, IVR Prime & Jindal Saw.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
