CHINA WOMAN BUYS FRENCH VINTAGE WINE

A Chinese woman won the bidding for a coveted barrel of Burgundy wine at a Christie's-run charity auction in France, paying USD 177,000 for her cask. It was the first time a Chinese buyer came away with the top item at the annual auction for the Hospices de Beaune charity, where around 443 wines went under the hammer yesterday. 456 litres of Meursault-Genevrieres, is from Yunan in southeastern China and owns a chain of shops, jade mines and tea plantations. Michael Ganne, a representative from Christie's, which has run the auction since 2005, said a significant number of Asians had attended the event and that it generated "a lot of interest, with a small volume of vintage" available. The proceeds from the auction will be distributed among various charities. France is a major exporter of wine to China, which has become a key, fast-growing market. Wine consumption in the world's most populous country more than doubled in the four years to 2011, and is set to rise another 40 per cent by 2016, according to Vinexpo, the industry's top trade-fair organiser.

INDIA A NEW PUBLISHING STOP FOR FORIEGN WRITERS

Is there a trend of writers from Europe and America coming to India to get their books published and earn recognition? The question got new focus at the launch of Canadian writer Merlaine Hemstraat's new novel "Peacocks among the Tamarind Trees", a love story involving two doctors from Canada and India, here recently. "Writers from other parts of the world come here looking for a bigger audience and accolade," says veteran journalist Dilip Bobb who attended the launch of Hemstraat's book published by New Delhi-based Palimpsest. Indian writers would throng the West to get their books published but with e-books posing an ever-increasing challenge to publications there, industry experts indicate a reverse flow may have just begun. The big and burgeoning Indian book publishing market and the country's effervescent literary culture have begun to attract both established and new writers from the either side of the Atlantic. "If Jeffrey Archer came here to promote his new book earlier this year, now it is Hemstraat's turn to launch her book in India," says Bobb. The trend, he says, was going to get stronger in the coming days. "Indeed, India has emerged as the third biggest publishing hub after the US and the UK. If the title and story of Hemstraat's book are anything to go by, India looms large over the literary landscape as an influence," says the veteran writer.

Pointing out that one of the major characters in her novel is an Indian doctor, Hemstraat said that for her India was "a discovery of new ideas and values. To get published in India is both an opportunity and honour". Bhaskar Roy, CEO, Palimpsest, points out that writers as a community are living in a borderless world. "Contemporary Indian fiction, has captured the nuances of the country's socio-political reality much better than academic books," says Roy. In this context, he mentions Subhashini Dinesh's debut novel, "My Iron Wings" (Palimpsest) which recounts the tension and uncertainties in Indian society in the wake of the economic reforms in the early nineties. The book launch was followed by a lively literary conversation between Hemstraat and Dinesh. Both agreed that women writers are increasingly occupying more space in the writing world because of their sensitive portrayal of the world around. "Peacocks Among the Tamarind Trees" is a story of a group of men and women from different parts of the world, all associated with the medical profession, who join a rural clinic in the wilderness of Africa. Faith Valencia, a young and beautiful doctor from Toronto, meets a dashing Indian surgeon, Dr Aditya Raina, in this clinic. Just when they have begun discussing marriage, Aditya breaks the terrible news – he is suffering from a rare, incurable disease. Faith has an easy way out--of sending the ailing man packing and going back to her former lover, Dr St. Martin, an extremely talented French doctor. But she takes a different route--marries Aditya and then goes on to find a cure for him. And finally, the couple comes home to India.

MARKET OUTLOOK FOR 19th DECEMBER & REVIEW

Zigzag Movements and Caution at Higher Levels…!!!

Nifty gained smartly for the Second day and ended nearer to 6200 mark. While it appears to have come out of short term bearishness, bullishness would be confirned on a close above 6225. Short term is Neutral with Bullish bias. . Nifty spot is expected to encounter resistance at 6230,  6265 and find support at 6150, 6115 for Tuesday. While Global cues and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market is expected to  witness zigzag movements with alternate bouts of bearishness and bullishness and caution is advised at higher levels

Nifty                               6056        -+66

Review for Monday, 18th October, 2013 :: Smart Rally ..!!

Market continued its strong pullback for the Second day and wiped out more than 50% of the earlier in Two trading sessions. Bank stocks bounced back strongly and all sectoral indices closed in the green led by Bank, FCMCG, Realty, Infra etc., 44 of Nifty stocks closed in the green and broader market too was quite strong with Advance Decline ratio placed at 1.6 :1. JP Associates, L&T, ITC, HDFC Bank, Axis  Bank, stood out as  major gainers among Nifty stocks while Coal India, SSLT, Cipla, Bajaj Auto and Lupin  remained  major losers. ITC, HDFC Duo   contributed about 50  points to Nifty’s gain.

Among F&O stocks,  Bank of India, Union Bank, HDIL, JP Associates, Godrej Industries   remained major gainers  while Sun TV, Hexaware, SSLT, Coal India     remained  major losers.

Inputs provided by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

INDIAN MARKET ON RALLY

Indian markets made a rollicking start to the week with the Sensex soaring over 451 points and the rupee surging by 70 paise to nearly two-week highs today on robust capital inflows tracking Chinese reform initiatives and hopes that the US economic stimulus would be extended. The benchmark S&P BSE Sensex opened 171 points higher and stayed in positive territory through the day to end at an almost two-week high of 20,850.74, a rise of 451.32 points, or 2.21 per cent. It was the biggest gain since October 18. Last week, the 30-share bluechip index closed 266 points lower. The Asian markets were in a buoyant mood after declaration of big-bang economic and social reforms announced at the Chinese Party Third Plenum. This optimism rubbed off on Indian equities as well, said traders.

The CNX Nifty on the National Stock Exchange flared up 132.85 points, or 2.19 per cent, to 6,189. The SX40 on the MCX Stock Exchange closed 247.21 points up at 12,366.6. 

Investors richer by over Rs 1 lakh cr

With the stock market benchmark Sensex today surging over 450 points to settle at nearly two- week high, investors became richer by over Rs 1 lakh crore. 

Following the robust sentiment in the stock market, the total investor wealth soared by Rs 1,05,802 crore to Rs 67,94,300 crore. "Positive global cues, optimism from the US that they are not in hurry to taper stimulus program and also a stronger Rupee fuelled the rally today," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Limited.
Among the 30-Sensex components, 26 ended the day with gains, led by HDFC Bank that rose by 4.15 per cent.
All the 13 BSE sectoral indices ended the day in green, with Capital Goods index leading the chart with 3.19 per cent gain.
Participating in the market rally, 1,403 scrips advanced for the day, while 1,057 stocks declined and 126 remained unchanged.

5 INDIAN CITIES FIGURE AS VALUE CITIES

Around five Indian cities have featured in the top 100 list of the best value destinations across the globe, where one can travel without breaking the bank, says a recent study. According to on-line hotel search site trivago's 'Best Value Index', Nashik, where a night's stay costs travellers Rs 5,665, stands at the 21st position and was voted as the best tourist friendly city of the country this year; the beaches of Varkala in Kerala were ranked 28, the royalty of Jaisalmer in Rajasthan was at 41, Alibaug in Maharashtra at 56 and Munnar in Kerala at 60. The 'Best Value Index' is based on the yearly average overnight price of a standard double room, combined with the destinations' overall hotel reputation from over 82 million traveller reviews. These spots are the world's top in terms of delivering the best value for your money. "It's nice to see five cities being featured in the top 100 list, it shows tourism in the country has a lot of potential and we are more affordable when compared to the rest of the world. These ranking not only reflect how Indians rank them but it is also showing how the international tourist rated them," Abhinav Kumar of trivago (India) said. The report has compiled a list of the best value destinations worldwide, which included UNESCO world heritage site Plitvieka Jezera (Croatia), the pristine beach of Puerto Princesa (Philippines) and the culturally rich capital Hanoi (Vietnam). Morocco's Ait Benhaddou has topped this year's number one in the top 100 Best Value Index, the report said, adding that an overnight stay in a standard double room in the city costs an average Rs 3,551 and it is one of the 25 destinations on the top 100 that is home to a UNESCO World Heritage site. Second in the list is Mostar in Bosnia and Herzegovina, where a night's stay costs travellers Rs 4,227. The same price is paid for the picturesque Greek village Chora on the island Ios, surrounded by Sahara sand dunes. Bhaktapur, the former Nepalese capital, is ranked fifth at Rs 3,551. Thailand had the strongest representation on trivago's list of top 100 value destinations with a total of nine spots, followed by Greece with seven destinations, then Spain, China and Portugal with six each.

CONSOLIDATION AHEAD

General outlook for the week (18.11.2013 to 22.11.2013) ::

 Planetary Position ::  During the current week Moon would be
transiting  from Krittika in Taurus  to Punarvasu in Gemini .  Sun transits in Visakha and Anuradha  constellations  in Scorpio.    Mercury ,transits in Swathi constellation in Libra.   Mars  transits in  Leo in Pubba and Uttara  constellations.  Saturn continues in Visakha  constellation in   Aries navamsa.  Jupiter transits in Gemini in Punarvasu  in Taurus Navamsa in Retrograde motion till to 6^th March, 2014.  Venus transits in  Poorvashadha  constellation in  Sagittarius sign. Astro Range during last week was 6150 and 5970 and can be considered as reference range for the next Three weeks and Nifty  can be considered Bullish above the High and Bearish below the Low level. 

Nifty Outlook for Next Week :: 18.11.2013 to 22.11.2013 (Buy on Deep Decline)…  

 NIFTY :: 6056 (-81)  

Nifty continued its downtrend for the Second Week and trimmed its  weekly loss due to Friday’s rise. However, it has taken support around strong support zone and in case it does not revisit, the rise too can be smart. However, there is a possibility of Nifty making a double bottom or slightly lower bottom before it rebounds. Hence, this can be considered as a week of consolidation and any reasonable / deep decline can be considered for  buying for short term. At the same time, caution is to be exercised at higher levels. Ongoing correction can be considered as a healthy correction for the smart rise of last month. While Short term trend is Down, Medium / Long term trend continues to be Up . and any decent correction is to  be utilized for Medium term long positions. Political developments are to be closely watched for further trigger. Further, Nifty has been trading in a range of 4600 to 6300 for more than 4 years and is due for a  powerful breakout sooner than later. All eyes are on forth coming State Elections which could be viewed as a  prelude for the forthcoming Big fight. Stock market discounts future in advance and is ahead of economy and fundamentals atleast by Six months. and medium term bullish sign in markets presupposes improving fundamentals.  Nifty has been making higher bottoms and can be expected to breakout and make higher tops. “Buy on Decline” may be followed for Medium / long term. Traders should be ever vigilant to track short term movements and presently, a close above 6125 only would reverse the short term bearish sentiment. Nifty is  above 200  DMA  and 50 DMA and the  50DMa also is crossing  200DMA and makes a clear case of “Buy on Decline” with 200 DMA as stop loss. .

For the coming week, Nifty spot is expected to face resistance at
6135,  6215, 6290 and find support at 5975, 590080, 5900.5825.

Nifty , presently in short term bearishness, would reverse only on a close above 6125.

Advice for Traders :: Nifty , presently, in short term bearishness, might revisit / make a lower bottom before rebounding. Hence, caution is advised at higher levels and any deep decline may be utilized for buying as a fresh wave of Bullishness is possible after the ongoing correction as Medium / Long term trend is Bullish.

WD Gann’s
natural numbers which would act as natural support and resistance are
, :5891,  5968, 6046, 6124, 6202 ,6281, 6361,6441  during the week.

Further , Weekly Open level is very important for the entire week.
Short positions may be avoided as long as it maintains / closes above
Weekly open and vice versa.

Inputs provided by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

He can be reached @

MORE INCLUSIVE GROWTH BY 75 I-DAY

TOP INDUSTRIAL LEADERS OWE

Top industry leaders such as Cyrus Mistry, Kris Gopalakrishnan, Rahul Bajaj and Adi Godrej today vowed to work towards making India a more inclusive country by 2022 and have sought public cooperation to achieve the same. Calling upon the citizens to join the industry's grassroots movement aimed at a more inclusive growth with sustainable development by 2022, when India will celebrate her 75th Independence Day, these leaders made a public pledge at a CII event, marking the beginning of the 'India@75 Movement' late this evening here. The CII movement aims to make India a developed country in a decade. It hoped to achieve this through skill development, urbanisation and environmental sustainability, philanthropy and volunteerism. "India@75 is a people's movement. It is by the people, for the people. This movement has gained momentum, thanks to the support from distinguished individuals from various walks of life. I urge everyone of us to be a part of this initiative and work towards becoming an inconclusive, sustainable and developed nation by 2022," said noted industrialist Adi Godrej, who is also the chairman of India@75 Foundation. Speaking at the event and taking the pledge, Tata Group Chairman Cyrus Mistry said, "Each one can make a difference and look forward to this platform to being a catalyst." "The thought behind 'count me in', that Indians can step out and volunteer, individually or collectively, is a simple but powerful one. This initiative is as much about the spirit of community and commitment, as it is about the value of the contribution made." Godrej said CII drew the idea from globally renowned management guru late C K Prahalad, who articulated the idea of a developed India in three dimensions -- economic resilience, technological vitality and vibrant moral leadership. What makes this campaign unique is that every Indian can join the movement and contribute by volunteering one's professional skill and time and/or providing monetary contributions for India@75 initiatives, Godrej said. "One has to make the future happen. Private sector has to play a special part, and this initiative will be a vehicle for that," Bajaj Auto chief Rahul Bajaj said. Also, CII President Kris Gopalakrishnan called for involvement of diverse stakeholders in realising India's dreams.

CONTAINING INFLATION NOT THAT MUCH EASY

As retail inflation crossed the double-digit mark, Finance Minister P Chidambaram today said the government is looking at various suggestions to cool prices but there were no easy answers to the problem. "Both RBI and the government are trying number of measures to cool inflation... We are looking at various suggestion that we have got. I am open to suggestion but I am afraid that there is no easy answers to cool retail inflation," he said while addressing investors here. The CPI inflation, measured by movement in the retail prices of food items, soared to a seven-month high of 10.09 per cent in October. The wholesale price-based inflation too shot up to 8-month high of 7 per cent in the same month. He attributed the rising inflation to the high fiscal deficit incurred by the government to neutralise the impact of global financial meltdown of 2008. The Minister further said although the government had offloaded 5 lakh tones of wheat to contain price rise, it would not cool prices of fruit, vegetable, milk and eggs.

INFLATION AGAIN INCHES UP

SHOOTED UP TO 8 MONTH HIGH OF 7%

Spiralling prices of onion and other vegetables pushed the wholesale inflation to an eight month high of 7 per cent in October and prompt the RBI to consider further hike in interest rate to check price rise. The inflation measured on the WPI was at 6.46 per cent in the previous month and 7.32 per cent in the October 2012.
As per the government data released today, rate of price rise in food articles was at 18.19 per cent in October. "The high food prices calls for urgent steps to increase the efficiency of the food supplies chain through appropriate policy responses to cut down on intermediaries and reduce waste," industry chamber CII said.
The jump in WPI inflation comes after the October retail inflation increased to 10.1 per cent, the highest in the past seven months. While inflation in the vegetable segment stood at 78.38 per cent in October, the rate of price rise in onion continued to remain high at 278.21 per cent.
Protein rich items like egg, meat and fish became dearer by 17.47 per cent against 13.37 per cent in September.
RBI Governor Raghuram Rajan had yesterday described the food inflation as "worryingly high".
RBI increased the key rate twice in its last two monetary policy reviews with an aim to check high inflation.
As per the data, while there was slight moderation in prices of cereals and rice, wheat became dearer in October. The inflation in wheat was at 7.88 per cent last month as against 5.9 per cent in September.
It further showed inflation in the manufactured products inching up to 2.5 per cent versus 2.03 per cent in September.
Assocham said while jump in inflation is surely a disturbing sign, the rise in 'build-up inflation' to 6 per cent in the fiscal so far clearly indicates that there is still pain ahead.

The WPI data released by the Department of Industrial Policy and Promotion (DIPP) further revealed that inflation in the primary articles segment also inched up to 14.68 per cent in October from 13.54 per cent in the previous month.
Inflation in fuel and power segment, at the wholesale level, too was marginally up at 10.33 per cent.
"Build up inflation rate in the financial year so far was 6 per cent compared to a build up rate of 4.66 per cent in the corresponding period of the previous year," the release said.
Meanwhile, the WPI inflation for the month of August has been revised upwards to 6.99 per cent from the earlier estimated 6.1 per cent.
Commenting on the data, Leif Eskesen, Chief Economist for India & ASEAN at HSBC, said this underscores the need for stepped up structural reform implementation and a hawkish central bank to scare away the inflation ghost.
Bhupali Gursale (Economist - Angel Broking) said: "In context of the monetary policy stance going forward, we are watchful for additional data points on inflation as well as movement in the currency since these are likely to continue determining policy action."
RBI will come out with its mid-quarter monetary policy review on December 18.

NO WORRY ABOUT RUPEE FALL

RAJAN ASSURES INVESTORS

Seeking to reassure investors, RBI Governor Raghuram Rajan today said there is no fundamental reason for rupee to fall again, and pegged the current account deficit for 2013-14 at USD 56 billion, much lower than the quantum estimated earlier. He also said the Reserve Bank will not rush to close the special window opened for dollar purchase by oil companies. The Governor also expressed the optimism that the second half of the current financial year will see better growth numbers on the back of good monsoon and the associated pick-up in consumption and healthy exports. Referring to the recent decline in the value of rupee, the RBI chief said: "There is no fundamental reason for volatility in the exchange rate." "At some time, it makes sense to take a deep breath and examine the fundamentals. I hope you all will do that," he said in the hurriedly called press meet. Pegging a much lower CAD for the fiscal, Rajan said: "Our estimate now is that CAD this year will be USD 56 billion, less than 3 per cent of GDP and USD 32 billion less than last year. Of course, some of that compression comes of our strong measures to curb gold import." The current account deficit (CAD), which is the difference between outflow and inflow of foreign exchange, touched an all-time high of USD 88.2 billion or 4.8 per cent of the GDP in 2012-13. Earlier, the government had projected the CAD in the current fiscal at USD 70 billion, which was revised downwards to USD 60 billion by Finance Minister P Chidambaram on back of declining gold imports and recovery in exports. "It's important that RBI clarifies interpretation of economic events and the likely direction of economic policies at times of uncertainty so that the market worries about the right things and does not get into a tizzy about the wrong ones. That is my quote today," Rajan said. His remarks seemed to have calmed currency markets as the rupee gained 41 paise against dollar to close at 63.30, after declining in the previous five days in a row.

Govt MULLS ANNUAL SERVICES SECTOR SURVEY

The government is planning an annual services sector survey on the lines of the yearly exercise which tracks the performance of industries, a senior official said today. "We are planning an annual survey for services which will give regular data on the sector's detailed performance, " Chief Statistician T C A Anant said while addressing CII Services Conclave 2013 here in the capital. At present, the Ministry of Statistics and Programme Implementation brings out an industries survey every year which provides data on the performance of the sector. Experts feel that there is need for a similar survey for services to provide data on the sector for timely and effective policy action. The services sector has a dominant share in India's GDP. It contributes over 60 per cent to the Gross Domestic Product. According to Anant, there is need to appoint nodal agency for collecting data for annual survey of services. The data on manufactured goods for annual industries survey is collected by the Directorate General of Commercial Intelligence and Statistics. The Chief Statistician said that there may be need for supplementary legislation for collection of services data. At present, the data for surveys is collected as per the Collection of Statistics Act. He said the data available from institutions to analyse the performance is inadequate at present. For instance, the RBI tracks transactions in services sector but all of those are not routed through the central bank. Certain transactions in case of foreign education and medical tourism are not routed through the RBI. Talking about his Ministry's efforts to improve data collection, he informed that a web-based data collection system has been developed, which in future would be used for collecting data for industries as well as the services sector. According to him, the present system of physical data collection is very cumbersome and the industry should come forward to provide data so that actual state of economy could be gauged.