Showing posts from October, 2015





Mobile App for forex launched, the online aggregator of foreign exchange dealers, today launched India's first forex booking mobile app for exchange of foreign currency. The UAE-based Free Zone company,, aims to change the way consumers buy/sell forex in India through the use of technology. The app is available on iOS and Play store platforms, said. The company has its R&D (Research and Development) Centre at Bengaluru, and is currently reaching out to people at more than 650 locations across India, it said in a statement here. aims to provide the consumers with the ease of instantly booking forex requirement by locating the cheapest and nearest dealer in the city, bringing convenience to the traveler/tourist to book forex with a click, it added. "The new app would answer all customer queries about foreign exchange through a personalised chat option. The app is geo-located, where users can enter the city or the locality from where they want to collect the fo…


Fag-end buying saved the day for domestic market as the BSE Sensex reversed all of its early losses and settle 204.46 points higher at 27,214.60, tracking firm global cues, while Nifty reclaimed the 8,200-level. In early trade, the 30-share Sensex cracked below the 27,000-mark by dropping 93 points to hit a low of 26,917.12 as investors booked profits in recent gainers after the country's exports in September dropped for the tenth straight month. However, on across-the-board buying in late session, the index recovered from early losses to end at 27,214.60, up 204.46 points or 0.76 per cent. Meanwhile, the 50-issue NSE Nifty recaptured the crucial 8,200-mark and settled 58.65 points or 0.72 per cent higher at 8,238.15. It slipped to a low of 8,147.65 during the day. With today's late rally, both Sensex and Nifty climbed 135.09 points (0.49 pc) and 48.45 points (0.59 pc), respectively, for the week, to log third-straight weekly rise. Market commenced lower as participants locked…


Indian shares closed in green after three days, mirroring a firm global rally as a weak US data reduced the odds of the Federal Reserve raising rates this year, propelling the BSE Sensex again to the 27,000-level. Spurt in auto stocks gave a further fillip to the market mood with the sector index logging a gain of 2.33 per cent. The benchmark BSE Sensex resumed higher at 26,842.19 and firmed up further to 27,037.95 before closing at 27,010.14, showing a gain of 230.48 points or 0.86 per cent. Tata Motors was the top index gainer with a surge of 8.06 per cent as its Jaguar Land Rover unit reported a 3 per cent rise in September sales. Other automakers including Maruti Suzuki, Hero MotoCorp and Bajaj Auto also notched up smart gains on hopes of a surge in sales during the festive season. Meanwhile, the US Commerce Department yesterday reporting that retail sales inched up by 0.1 per cent in September triggered a massive rally in Asian and European markets as the data reinforced hopes of…

Strong Support for Nifty @ 8100  …!  

Outlook for 12.10.2015 to 16.10.2015

NIFTY :: 8190    (+240)
Nifty gained  far above the reisstance level of 8050 and finally closed around 8190 level with a 3% uplevel..
20 DMA, 50DMA, 100DMA and 200 DMA are placed at about 7940, 8097 8220 and 8366.  respectively and wouldact as supports / resistances. Nifty is trading  below  half  of   the  averages  which is a matter of  concern.
While Nifty continues to trade below   the  200 DMA and 50 DMA too is  below   200 DMA (Death  Cross) suggesting that the Bearish  trend is   in    tact.
Moon transits between Uttarabhadra and  Revathi during 28th September and 29th September 2015. Highest and Lowest levels during these days would be the reference range for the next Three Weeks  s. Nifty’s Highest and Lowest levels during the above period was 7921 and 7691 and traded above the highest levels thereafter till about 8240.
Trend change has taken place Nifty during the week with Nifty closing at more than 8110. Medium term would once again turn bulli…


ICICI launches 'mVisa' mobile payment service

Top private sector lender ICICI Bank today launched a mobile-payment solution based on 'mVisa' that will allow its customers pay for services using their smartphones. The service, which can be used by customers who have installed an app of the bank's mobile wallet 'Pockets', works by scanning QR codes. They can make electronic payments from smartphones at physical stores, accept e-commerce deliveries, pay radio taxis and utility bills among others, the bank said in a statement. The service is based on ‘mVisa’, a new mobile payment solution from Visa, and ICICI Bank is the first globally to launch a mobile-app based ‘mVisa’ solution for consumers and merchants, it said. At present, customers pay either in cash or have to swipe cards at a point of sale (POS) machine to complete a transaction. The bank says it has had two million downloads of Pockets app and 70 per cent of them are non-ICICI Bank account holders. Cu…


Market benchmark Sensex today rose for the fourth straight by surging 564.60 points to close at one and a half months high of 26,785.55 tracking upbeat Asian and European cues after US jobs data fuelled speculation that the Fed will not raise interest rates any time soon. On the domestic front, Sensex's biggest single day rise in nine months since January 15, was supported by the rupee gaining some muscle against the dollar. The rally in Indian shares was a part of the smart upmove seen in global stocks triggered by expectations that the US Federal Reserve will delay the first interest rate hike in almost a decade in wake of a lackluster US jobs data. "The odds of a US rate hike during October have lessened due to poor payroll data," said Vinod Nair Head-Fundamental Research at Geojit BNP Paribas Financial Services. After tracking bullish global cues, the 30-share Sensex scaled the day's high of 26,822.42 and closed 564.60 points or 2.15 per cent higher at 26,785.55,…


Nifty Bullish above  8050 !

Outlook for Week 05.10.2015 to 09.10.2015
NIFTY :: 7951    (+82)
Nifty gained smartly following the reporate reduction of 0.50% and gained about 1%. RBI gave more than market expectation .
20 DMA, 50DMA, 100DMA and 200 DMA are placed at about 7827, 8248, 8227 and 8397.  respectively and wouldact as supports / resistances. Nifty is trading  below  most of   the  averages  which is a matter of  concern.
While Nifty continues to trade below   the  200 DMA and 50 DMA too is  below   200 DMA (Death  Cross) suggesting that the Bearish  trend is   in    tact.
Technical Levels ::
Breakout level 8050: Breakdown level 7690
Bullish above 8025 Resistance at 8100, 8175, 8250
Bearish below 7875 Supports at 7800, 7725, 7650.
Advice for Traders : Medium term would once again turn bullish only if Nifty is able sustain above 8150 for about Two weeks. Nifty would face  resistance around 8110, above which it will have real bullishness and has strong support around 7500 too. Astrological…