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MELTING-INFY

Head & Shoulder :Target of $ 32 is done !

 

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Yes ,Today Afternoon in our Password Protected post :

We had written :Above 806,No worry………….Target : 830-838 & then ??

Yes ,Mint Money in TONS TONS TONS !!

GOLD-MELTING-ASR

Above is DAILY CHART of GOLD SPOT

Now at Very Crucial level………………Break with volumes below $ 1179 & stays below

Will take to 1164——————————1159 & there after more PANIC !!

Will Update More to our Subscribers ,Updated at 19:45/24th April/Baroda/India

INFY-CRASH

 

After a drop last week, India’s foreign exchange reserves rose by $2.78 billion to $343.20 billion in week ended April 17, 2015, according to RBI.

During the week ended April 17, the foreign currency assets, a major component of forex reserves, jumped $2.727 billion to $318.859 billion.

Gold reserves remained unchanged at $19.038 billion, while Special Drawing Rights (SDRs) and India’s reserve position with the IMF increased marginally by $45.6 million to $4.005 billion and $14.8 million to $1.298 billion, respectively.

In the previous reporting week, the reserves had fallen by $2.593 billion in the week ended April 10, snapping a consecutive three-week rise. The reserves had partly fallen due to valuation changes and partly due to RBI selling dollars during that week. The rupee was under pressure in the previous reporting week due to dollar’s global strength and RBI had to sell dollars to support the Indian currency.

 

The asset quality of India’s agricultural credit could be significantly impacted by crop damage due to untimely hail and rain in March 2015, according to a report by India Ratings and Research.

“The NPL ratio of the agri-loan portfolio could double for some banks, though the reduction of overall return on asset may be muted at between 4-6 basis points (about 10 per cent of the profitability of Government banks). The unseasonal rains followed one of the weakest and most deficient (12 per cent) monsoons that the country had experienced in FY15 which has heightened its impact, the ratings agency said in a statement.

India Ratings expects the profitability impact to be felt in 2HFY16. The impact of the unseasonal rains will be felt with a lag, as NPA recognition policies for agricultural loans (one or two crop seasons past due) differ from those of corporate or retail loans (90 days past due).

Agricultural loans grew 16 per cent in FY15 and have contributed 25 per cent to incremental credit growth since March 2014. >> Read More

 

Greece’s Varoufakis speaks after Eurogroup meeting

  • Agreement with creditors will be difficult but will happen and happen quickly
  • Clear indication that process of negotiation has converged in last weeks
  • There is some progress but we need to speed it up
  • Greece cannot cut pensions and we have disagreements on that
  • Greece open to any suggestions that would speed talks up
  • Greece and its creditors have come closer on matters of privatisation in last two weeks and on judiciary
  • Greek gov understands that it has no right to fail in talks
  • Gov does not want to sign of on pledges of primary surpluses that would be impossible to achieve
  • Liquidity is tight because Greece is funding all redemptions from own resources (Isn’t that what they’re supposed to do anyway, or am I the bonkers one?)
 
Commodities trading guru and hedge fund manager Jim Rogers says he is getting disillusioned by India because the Narendra Modigovernment has been all about talk and no action. Rogers, chairman ofRogers Holdings Ltd, said he bought into India last year after the Bharatiya Janata Party (BJP)’s victory under Modi, and so far, the government has done little to impress foreign investors.
The Singapore-based Rogers said the Indian stock market’s performance cannot be a gauge of the government’s performance, pointing out that many markets had been doing well, buoyed by a massive amount of liquidity sloshing around the world. Edited excerpts:
 
You had been heavily critical of India’s United Progressive Alliance (UPA) regime. You had earlier said you were shorting India and blamed the then Congress-led government’s lack of reforms and policy paralysis for that. It has been close to a year since the Modi-led government came to power. Has the situation on the ground changed?
I had bought shares in India—it was one of the few times I’ve done that in my life, and it was because of the new government. So far, the new government has done nothing but talk, and it is a shame because Modi had experience; he said he knew what needs to be done. He campaigned for many months saying he knows how to fix India, but he has done very little. Cleaning toilets is wonderful, but as far as building the economy or changing India (goes), he has not done very much. I still own Indian shares, and I wonder if I should continue holding, because, after a year of no action, you begin to wonder if anything is going to happen. One might say he is getting ready to act, but Modi had run a provincial government for a long time and he knows what to do. So what is all this talk about? I am getting disillusioned about India, but I’ve not acted yet.

>> Read More

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Technically Yours,
Team ASR,
Baroda, India.