ICICI Bank has a strong resistance at 1030-1035 level, because of the downtrend. The closing price today (17 Feb 2014) was 1009, so we have 2-3% gain available in ICICI Bank trading in the next 2-3 days. Trading with stock/futures is advisable because options trading may not produce suitable gains due to eroding time value ahead of options expiry on 26 Feb 2014.
Here’s the latest monthly chart of Indiabulls Real Estate Ltd (INRL.NS) as of 14 Feb 2014. The stock has been in a range between 40 to 80, and 40 should hold even in the current downmove. The stock should retrace back to 60 within 2-3 months. We are active investors in this stock. Contact us to make 25-30% per annum during year 2014, 2015 via investment in Indiabulls Real Estate stock.
The US Fed QE tapering and its potential consequences have kept the global markets busy over the last 2 weeks. If the US Fed QE taper continues on its planned path, we may see higher interest rates in the USA by July 2014 along with US Dollar appreciating against other currencies of the emerging markets.
It will be a very challenging task for the Emerging Markets (EMs) to keep their currencies stable in the face of QE tapering, because its difficult to estimate just how many billions USD will move back from emerging markets back to developed markets like USA in this process.
Countries like India may be forced to raise interest rates to control inflation and keep the currency stable, even though it will further hurt the domestic economy of India, and put downward pressure on Indian GDP growth. Continue reading Market Analysis Feb2014