Nobody Who Ever Gave Its Best Regrets It -- George Halas
Hi All,
Yesterday was another volatile day for the market, traded between 5254 to 5418. Good thing is that Nifty closed above 20 and 50 day EMA on 30 mins chart. This is a healthy sign. It think one can be long in nifty or the target of 5577 with a stop-loss of 5362. However, I think the overall trend is downward. Nifty will consolidate between 5200 to 5500. Due to rupee's weakness it might again go down till 5100 then 4800 in near future. People are taking puts of 4800 and 4900 for the month of September.
Term of a day: Current account deficit.
CAD: in economic it is one of the two components of the Balance of Payments. The other component is capital account. It is a sum of balance of trade, i.e, the revenue of export - payments of import, factor income, i.e, earning from foreign investors - payments made to foreign investors and cash transfer.
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