Sunday, September 2, 2012

Possible Nifty range for week ending 07 Sept 12

Recommendation of Postponement of  GAAR by three years by expert committee will lift  nifty to  5500 and above  within 90 days

The expert committee on General Anti Avoidance Rules (GAAR) today recommended postponement of the controversial tax provision by three years and abolition of capital gains tax on transfer of securities.As a step towards reassuring global investors, the Committee in its draft report, suggested that GAAR provisions should not be invoked to examine the genuineness of the residency of entities in Mauritius.Mauritius is the most preferred route for foreign investments because of the liberal taxation regime in the island country. India has a double taxation avoidance treaty with Mauritius.
last week it was posted ... we can expect nifty range for next week 5270- 5520 and Nifty traded between  5239 to 5399 before settling at 5258.more over it was indicated that "try to locate at nifty weekly chart - The Shooting Star is a bearish reversal pattern ..and we saw  reversal  in trend  and sell off was noticed  in  entire week
Profit booking seen after spotting of  shooting star now closed at 10 WMA  if it will break then next possible support will be 5162 .
Possible range for  week  ending 07 Sept 12 will be 5200 -  5429 extended   to 5162 down side and5500 towards higher side.

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