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NIFTY 10MIN AND 30 MIN CHARTS

NIFTY 10 MIN AND 30 MIN CHARTS

NIFTY 10 MIN AND 30 MIN CHARTS

NIFTY 10MIN AND 30 MIN CHARTS

UNITECH DAILY CHARTS

NIFTY 30 MIN AND 10 MIN CHARTS FOR 21ST JUNE ,2010

NIFTY 10MIN AND 30 MIN CHARTS: 18TH JUNE

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UNITECH WEEKLY CHARTS

WEEKEND READING

Soros Says ‘We Have Just Entered Act II’ of Crisis

June 10 (Bloomberg) -- Billionaire investor George Soros said “we have just entered Act II” of the crisis as Europe’s fiscal woes worsen and governments are pressured to curb budget deficits that may push the global economy back into recession.
“The collapse of the financial system as we know it is real, and the crisis is far from over,” Soros said today at a conference in Vienna. “Indeed, we have just entered Act II of the drama.”
Soros, 79, said the current situation in the world economy is “eerily” reminiscent of the 1930s with governments under pressure to narrow their budget deficits at a time when the economic recovery is weak.
Concern that Europe’s sovereign-debt crisis may spread sent the euro to a four-year low against the dollar on June 7 and has wiped out more than $4 trillion from global stock markets this year. Europe’s debt-ridden nations have to raise almost 2 trillion euros ($2.4 trillion) within the next three years to refinance, according to Bank of America Corp.
“When the financial markets started losing confidence in the credibility of sovereign debt, Greece and the euro have taken center stage, but the effects are liable to be felt worldwide,” Soros said.
Soros gained fame in the 1990s when he reportedly made $1 billion correctly betting against the British pound. He also wagered that Germany’s mark would appreciate after the collapse of the Berlin Wall in 1989 and that Japanese stocks would start to fall in the same year. His firm, Soros Fund Management LLC, manages about $25 billion.

NIFTY MAY FACE RES NEAR 5135-5145 RANGE,STRONG GLOBAL CUES MAY SEE NIFTY OPENS GAP UP.IF TRADES AND SUSTAINS ABV 5145 MAY TGT 5161-5183 LEVELS ALSO.

IF OPENS GAP UP ABOVE 5120, IMMEDIATE SUPP WILL BE NEAR 5088 AND THEN IN 5050-5044 RANGE.
TILL NIFTY TRADES ABV 5088 IT WILL BE BUY IN DIPS
SOME PROFIT BOOKING MAY BE SEEN NEAR CLOSING (2PM-3PM)DUE TO WEEKEND

5000PE SAW AN ADDITION OF 16.6 LAKHS SHARES IN O.I AND ALSO HAS HIGHEST O.I IN THIS SERIES
WHILE 5300CE HAS HIGHEST O.I IN JUNE CALLS INDICATING A RANGE OF 5000-5300 IN COMING WEEKS

Gold could fall 40% from peak: Prechter

NEW YORK: The price of gold could drop 40 per cent from its all-time high because of bearish technical momentum and deflation amid a European debt crisis, said Elliott Wave International President Robert Prechter on Monday.

Prechter said at the Reuters Investment Outlook Summit in New York that recent readings of gold market psychology showed a 98 per cent bullishness in the metal, the highest ever recorded for any physical commodity.

He said, however, that technical momentum was stalling for gold as the rate of increase had peaked in 2006, and that each subsequent rally since then has risen at a slower rate.

"That is not a guarantee of change but a sign that one is likely."

In January, he had forecast that gold could drop at least 40 per cent from its peak value because of deflation and over-ownership.

Asked if Prechter still expected gold to correct 40 per cent, he said that extremes in technical indicators still "leave gold vulnerable to that large of a decline."

"I still feel that gold is not going to the moon here. It's not a market that you want to be long, just as you didn't want to be long stock in the first quarter."

In addition, Prechter said investors should be out of the equity markets completely and he continued to expect U.S. stocks will fall below the March 2009 low of about 666 points on the S&P 500 index.

Prechter is known for forecasting a big bull market in stocks in 1982 and for getting out before the 1987 stock market crash.

On Monday, gold rallied above $1,240 an ounce on safe-haven play as funds piled in for safety because of ongoing fears about euro-zone credit contagion. Gold is now less than $10 below its record of $1,248.95 set on May 14.

"I think that gold is biding its time. It's real money, and I think there is a place for it in our portfolios."

"In terms of timing, the time to get excited about gold was back in 2001 when no one wanted it, and now everyone seems to want i

Kirit Parikh expects fuel price deregulation in June 7 meet

The Empowered Group of Ministers headed by Finance Minister Pranab Mukherjee is scheduled to meet on June 7, 2010 to discuss deregulation of fuel prices. The panel would take into account the recommendations put forth by the Kirit Parikh Committee on the issue.
Optimistic about significant measures being taken in the June 7 meet, Kirit Parikh, Member of the Planning Commission said deregulation would promote private sector presence in the oil marketing space.

Hopeful that both petrol and diesel would be freed in the meet, he said, “The government can free diesel prices and cut excise as well. But raising price without freeing it will not be of much gain.”

Further, he said, the consumers could bear hike in LPG prices. But the hike, he pointed out, would not happen if petrol was freed without excise cuts. “Cooking fuels may at best see modest hikes,” he said adding that the implementation of the UID scheme was essential for effectively targeting cooking fuel subsidies.

Commenting on the seriousness at the end of the policy makers, Parikh said, “The formation of an EGoM itself indicates that government wants serious reforms. Finance Minister has not provided much for oil subsidies in the budget and will need policy reforms to ensure low subsidies."

He also believed that gas transportation firm GAIL was not an upstream company and therefore should be excluded from subsidy sharing.

source:moneycontrol.com

25% public holding must for all listed cos: Govt

The government has raised the threshold for public shareholding in listed companies, reports CNBC-TV18's Siddharth Zarabi. Finance Minister Pranab Mukherjee in his Budget speech for 2009-10 had proposed to raise the threshold for public shareholding in all listed companies to 25%.

The Securities Contracts (Regulation) (Amendment) Rules, 2010 have been notified today. As per the amendment, all listed companies will need to have a minimum 25% public holding.

Companies, where the public holding is less than 25%, will have to reach the minimum level by an annual addition of not less than 5%. If they fail to do that, they will have to restore the 25% public holding in one year.

For instance, a company with already 21% public holding can do it within a year and take it to 25%.

The move will not impact companies looking to list. Companies with pending initial public offering nod can go ahead without 25% public shareholding. But they will have to later comply with the new norms by increasing public shareholding by at least 5% per annum.

The logic given for this by the Finance Ministry is primarily to increase the depth of the market and to prevent manipulation.

Meanwhile, sources in the Finance Ministry said that no company will be exempt from the minimum public holding norms. "All waivers have been done away with. There will be no case by case exemption."

They do not foresee a flood of issues crowding the market.

Sources said companies are free to choose the best dilution process between a follow-on public offer or qualified institutional placement.

Standard provisions would apply for violation of Securities Contracts (Regulation) rules. They confirmed that the provisions apply to both private and public sector understanding (PSU) companies.

The ministry, they said, has taken no view on multi-national companies that may seek to delist. Also, inclusion of foreign currency convertible bonds to calculate public shareholding will be taken up later.

The Finance Ministry feels that the reform can broadly be described as a step to ensure that a widely held company is less difficult to manipulate than a company that is closely held.

The Ministry, sources said, considered various timeframes and found the three-year period as optimal and reasonable. "If we raised it by 15% in one go, the markets would have been shocked. And five years is too long a period to raise this limit."

CNBC-TV18 learns that the move has been vetted by the Law Ministry and has been approved by the Finance Minister.

A government press release said a dispersed shareholding structure is essential for the sustenance of a continuous market for listed securities to provide liquidity to investors and to discover fair prices. "The larger the number of shareholders, the less is the scope for price manipulation by promoters."

With this decision, India in effect is moving closer to more developed economies where the minimum public shareholding level is something that is followed and maintained.

source:moneycontrol.com