Friday, September 14, 2012

Which Stocks To Buy Today - Silver Trend 14 September

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Indian equity benchmarks rose more than 2% in early trade on Friday as the government hiked diesel price yesterday and the Federal Reserve launched quantitative easing 3rd (QE3). Every stocks among largecaps caught in bull grip as metals, banks, oil & gas and auto indices surged 2-3%.

Government of India hiked diesel price by rs 5 per litre, and stopped subsidy on Government's move to hike diesel price by Rs 5 per liter is also being seen by the market as a positive step towards containing fiscal deficit. The move to hike diesel prices and cap the number of subsidised cooking gas cylinders per household will help partly repair the government's and oil marketing companies' balance sheets. And now that the government has shown its commitment to addressing the subsidy issue, the Reserve Bank of India may considering ease benchmark interest rates a bit. However, on the flip side, the hike in diesel prices will push up inflation near term.


Big gap up opening on expected lines. As due to two major factors government hikes diesel prices and reduce LPG cylinders quota to 6 per year. This is welcome step to curb fiscal deficit fed last night gave much awaited QE-3 which set world on fire. Now for today 5570 nf will act as first hurdle of bulls. On falls 5520 nf last hope support of bulls only breaking this range will set further moves from bulls or bears


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