Thursday, November 30, 2006

TELE DATA IN


TELE DATA trading in 3rd wave and broke out from a third wave triangle this can be longed with a sl 15.55 for a target of 17+ and then 20+ in coming days
cheers
rish

Wednesday, November 29, 2006

EAGLE EYE TRADING CONSULTANCY

Hello Dear Reader,
Welcome & many thanks to you for reading this site.

Over last few days, many of you inquired (messaged/mailed) about my EagleEye Trading Consultancy service.
I though I would write in detail to make it clear and to show how you all can benefit from this.

EagleEye Trading Consultancy
We strive to achieve Consistent Trading Returns for our Clients while exposing them to Low Risk trades. We have achieved good success in past and strive hard to do so in future.

We strive hard to find big breakouts and large reversals. This are places where most money is made.

I hope, you must have benefited in past with the free calls I have put on this blog. (browse the archives)

Also open the image below, to have a peek into our trading system. (open the image below and enlarge it.)


This is a snapshot of our trading system, which we follow and enhance religiously to find the next big thing. :-)

(Right click and "Open in new window" and then enlarge)





The consultancy we provide is a paid service.
To know more details about our Trading Consultancy
email: eagleeyetrade@gmail.com
yahoo chat id: rohit_mankotia@yahoo.co.in

TradeWell
Rohit Mankotia
www.EagleEyeTrade.com

India's Economy Probably Expanded Fastest After China

India's economy probably grew at the second-fastest pace among the world's biggest nations last quarter, adding pressure on the central bank to increase borrowing costs for the fourth time in a year.

Asia's fourth-largest economy grew 8.9 percent in the three months to Sept. 30 from a year earlier, matching the gain of the previous quarter, according to the median forecast of 17 economists in a Bloomberg News survey. The statistics department report is due tomorrow at noon in New Delhi.

Consumers in India are using their rising incomes to buy more cars, clothes, mobile phones and houses. That's stretching the production capacity of companies and fanning inflation, and may prompt the Reserve Bank of India to increase interest rates in its next monetary policy statement on Jan. 30.

``Inflation pressures are serious,'' said Rajat Nag, Managing Director General of the Southeast Asia department at the Asian Development Bank in Manila. ``Production capacities must be increased to prevent prices from rising. Interest rates may rise in the short term.''

India's benchmark wholesale price inflation rate held at 5.29 percent in the second week of November, above the government's ``tolerance'' level of 4 percent. Manufacturing inflation rose to 4.59 percent, the highest in 1 1/2 years, as companies including Hindustan Lever Ltd., India's biggest household products maker, raised prices of soap and toothpaste.

Chasing China

India's $775 billion economy has grown more than 8 percent in five of the past six quarters. China's $2.2 trillion economy, Asia's second largest, expanded 10.4 percent in the quarter ended Sept. 30, the quickest pace among the world's 20 largest economies and almost four times the 2.6 percent gain in the 12 European nations sharing the euro.

Reserve Bank of India Governor Yaga Venugopal Reddy in his last monetary policy statement on Oct. 31 said demand pressures exist in the economy and that production capacity must match economic expansion to prevent inflation flaring up.

Reddy and his fellow policy makers are expected to raise interest rates again at the beginning of 2007 as signs of ``overheating'' in the economy have emerged, the Paris-based Organization for Economic Co-operation and Development said in a report yesterday.

General Motors Corp., Royal Dutch Shell Plc. and other companies have invested in about 3,000 new factories and expansion projects worth about $21 billion in India since May 2004 to cater to growing demand, according to Finance Minister Palaniappan Chidambaram.

`Get Stronger'

``India's high growth trajectory is here to stay,'' said Brijmohan Lall Munjal, chairman of Hero Honda Motors Ltd., India's biggest motorcycle maker, currently building its third factory for $420 million. ``Incomes are rising, the government is spending more money to improve infrastructure. Economic growth will only get stronger from here.''

Per-capita income in India has doubled in the last nine years and the number of households earning an annual income of at least $10,000 is rising more than 20 percent a year, according to McKinsey & Co.

The creation of new jobs in the software industry and at call centers is putting more money in the hands of some 350 million middle-class Indians. For example, Dell Inc., the world's second-largest personal-computer maker, opened its fourth customer-service center in India this month as it seeks to reduce costs to shore up declining profit.

Cars, Mobile Phones

Agriculture production rose at the fastest pace in two years in the year ended March 31, increasing incomes of 650 million people who depend on farming for their livelihood.

That's helped companies such as Maruti Udyog Ltd., which sells half the cars bought in India, post a 40 percent gain in fiscal second-quarter profit as it sold more of its new WagonR and Swift hatchback models.

Bharti Airtel Ltd., India's largest mobile-phone service provider, said second-quarter profit soared 79 percent to a record because of a near-doubling of subscribers. India is the fastest-growing cellphone market in the world and companies added a record 6.71 million users last month compared with 6.07 million new users in September.

Growth in India's economy is also benefiting from Prime Minister Manmohan Singh's decision to increase spending on roads, ports and other infrastructure by a quarter to 992 billion rupees ($22 billion) in the year that started April 1 in a bid to attract overseas manufacturing companies and spur growth to 10 percent over a decade.

Public Works

Infrastructure spending is spurring demand for steel, cement and electricity in India, which spends a seventh of China's $150 billion investment in public works each year according to Morgan Stanley.

Governor Reddy last month left the central bank's reverse repurchase rate, or the overnight borrowing rate, unchanged while increasing the repurchase rate, or the overnight lending rate, by a quarter point to 7.25 percent, to give itself room to take further action to prevent ``overheating''.

The Reserve Bank of India, which for the first time said the economy is at risk of ``overheating,'' is reluctant to raise both the interest rates at its disposal at once to avoid slowing the economy too much.

``India can't afford to slow down its pace of growth,'' said Adi Godrej, chairman and managing director, Godrej Consumer Products Ltd., an Indian maker of personal-care items. ``India needs to grow faster to pull out large part of the population which is still reeling under poverty.''

Table of forecasts


-----------------------------------
GDP YoY
Firm Jul-Sep
-----------------------------------
Median 8.9%
Average 8.8%
High 9.7%
Low 7.5%
Number of Forecasts 17
-----------------------------------
Anand Rathi Securities 9.4%
Citigroup 8.5%
Credit Suisse 9.7%
Darashaw & Co. Ltd. 9.1%
DBS Group 8.4%
Deutsche Bank 8.3%
Forecast Singapore 7.5%
Global Absolute Research 9.1%
HSBC 9.0%
ICRA Limited 8.8%
IDBI Capital 8.5%
Ideaglobal 9.0%
ING Vysya Bank 8.9%
JPMorgan Chase 8.7%
Kotak Mahindra Bank 8.9%
Standard Chartered Bank 8.1%
Thomson IFR 9.6%
-----------------------------------
source :- bloomberg

Tuesday, November 28, 2006

Hilton, DLF to Build 75 Hotels in India in 7 Years

Hilton Hotels Corp., the second- largest U.S. provider of rooms, plans to build 75 hotels and serviced apartments in India in a venture with DLF Ltd, a real estate company owned by billionaire Kushal Pal Singh.

Hilton, based in Beverly Hills, California, will invest $143 million building the properties over seven years, the companies said in a statement. DLF will control 74 percent of the venture.

Hilton and Accor SA, Europe's largest hotel company, are building rooms in India as Deccan Aviation Ltd. adds flights to new airports and tourism grows at the world's third-fastest pace after Montenegro and China.

Hilton Chief Executive Officer Stephen Bollenbach said in October the group is also looking for a partner in China, where it plans to open 100 hotels in the next three to five years.

Hilton today said it will build its Hilton Hotels and Hilton Garden Inn brand in India, a move made possible by its $5.7 billion purchase of U.K.-based Hilton Group. The venture will initially build 20 hotels in cities including Chandigarh, Chennai, and Kolkata to cater to business travelers, it said.

Paris-based Accor yesterday said it formed a venture with the Indian unit of Emaar Properties PJSC to set up 100 budget hotels in India. John Keells Holdings Ltd., Sri Lanka's biggest hotel operator, plans to invest $100 million building its first resorts in India, Deputy Chairman Ajit Gunewardene said in an interview in Singapore.
SOURCE:- Bloomberg

NIFTY INTRADAY

Sunday, November 26, 2006

Indian mkt most volatile; but investors happy


It pays to take risk -- even in stock markets. Indian stocks might be the most volatile in the world, but returns for investors are also best among all the leading markets globally, including the US, UK and a number of Asian and European countries.

According to an analysis of the daily return and volatility in benchmark indices of major global markets over the past one year, investors on the Dalal street have reaped highest returns as compared to their global peers.
The Indian market has given a higher return than most of its counterparts despite an equally high level of fear factor -- as measured by volatility in daily market movements.

The Bombay Stock Exchange's 30-share benchmark index Sensex has given an average daily return of around 0.2 per cent over the past one year, which is twice the return given by its closest rival, the South African index.

All other major world stock indices including the US, UK, France, Hong Kong, Singapore, Australia, Malaysia, Mexico and Japan have given a daily average return of below 0.1 per cent.

Notwithstanding the high level of gains from the market, Indian investors are still the most worried lot as the volatility ratio of key stock index is the highest here.

The good news is daily average volatility has been on a gradual decline over the past few months after surging to as high as 3.25 per cent in June this year. It has been hovering around one per cent level over the past couple of months, except for a few days when it went up to nearly two per cent.

The volatility ratio had surged to an all-time high of 12.55 per cent on May 22 -- the day when Sensex recorded the highest intra-day fall of 1,111 points.

However, the current level of volatility in the Indian market is still higher than all the other major markets. Other than India, only Mexico, Brazil, Japan and South Africa have recorded an average daily volatility of more than one per cent over the past one year.

The volatility gauge has been below one per cent in relatively mature markets like the US, UK, France, Hong Kong, Singapore, Australia and Malaysia.

An analysis of the volatility index of BSE Sensex during the April-September period in 2006, shows it had peaked in the May-June period with values as high as 2.55 and 3.25. It then declined gradually on the back of strong FII inflows and improving investor sentiments.

Volatility dropped to 1.97 per cent in July and then to 0.67 in August. Since September onwards, it has hovered between 1-1.6 per cent.

"There was a general decline in volatility of major indices in September 2006 over the previous month. However, the Indian indices were comparatively more volatile over the previous month," market regulator SEBI said in its latest monthly report.

But a high level of volatility has not prevented BSE Sensex from outperforming the frontline indices of other major markets such as the USA, UK and Japan. The returns from Indian markets have outperformed other emerging markets of Brazil, Mexico and South Africa.

Saturday, November 25, 2006

GESCO CORP


GESCO trading in 5th wave more precisely 3 of 5th wave buy in dip for targets of 1063, 1129 and then overall target of 1300 stoploss here is a tricky thing there are two swing points depending upon your risk appetite can choose 992 or 940.
cheers
rish

BUY IN DIPS TO BE RISK FREE

Risk Management

Know how to manage the risk taken in stock trading!

There are vast differences between traders that are considered professional or amateur. A professional trader will avidly try to control risks and understand his/her risks on a daily basis. A professional trader will always be mindful of risk management before, during and after all trading activities. Qualities that make up a particularly good trader involve two key assessments:

* Risk exposure that will come from every stock trade
* Level of risk they are willing to take

Once a good trader has thoroughly these two key items, they will begin to properly understand the value and profit they could make from a particular trade. A trader who is mindful about his or her risk management will evaluate their position or exposure throughout the trade activities, and if the chosen trade carries a high risk, they will cut down on both in order to control risks on the portfolio.

Many traders use a risk management program that is made up various procedures that are implemented to estimate risks. The methods are set up to obtain the best investment results and they include:

* Quantify
* Estimate
* Control Risk

These are all areas of risk management that should be carefully considered, to quantify your risks and performance a financial analysts will apply these concepts and measure:

* Market Beta (linear regression slope of your portfolio or any single stock)
* Correlation (linear regression correlation of your portfolio)
* Volatility (standard deviation of the daily changes in percent of the portfolio price)
* Return and Risk Ratio (higher return or risk ratios mean better performance)

One very popular area of risk management is called the Value at Risk (VAR) concept. Many of the top investment advisors or trading houses use this concept to measure absolute risks of your portfolio. These are measured in dollars per day. In order to properly implement VAR it requires the person to study the price time series on all stocks within a particular portfolio. Many factors go into calculating the VAR concept, factors such as volatility of every stock, correlation among the entire portfolio, and stability of the relationships historically.

Risk management is only successful if the process begins prior to the start of a trade. Single trade risk management is implemented on a per trade basis. You must access many things before you are able to begin this risk management concept.

* First you must know the amount you are willing to lose prior to trading.
* Then you will need to ensure that the stock is active or sufficiently liquid, this is in case you would want to sell or buy promptly.
* Assess the “Cut Loss level” prior to any trading activity.
* Know the take profit level you are targeting.
* Only buy your stock when it as at the acceptable level of pricing.
* After your trade is confirmed, immediately enter a stop loss at market order with your previously determined level.
* Take your profit immediately when it reaches the profit target you determined.

When you manage your risks using the single trade risk management concept, you will find that your entire portfolio risks are under your control as well. Additionally, there are key areas you will want to assess in managing the risks of your portfolio as a whole, as well.

* Prior to building your portfolio, know the overall tolerance of risk
* Assess the overall level of cut loss, in general your portfolio as a whole should not lose in excess of 20% of the capital
* Maintain diversity with your investments, have at least three varied stocks
* Continually practice Single Trade risk management
* Assess the overall risk and the point where the risk comes
* If your risks limits are exceeded you must act quickly
* If your losses meet your overall stop loss level, it is time to close the entire portfolio

Friday, November 24, 2006

INTRADAY NIFTY

HDFC


HDFC is trading in its 5th impulsive wave presently trading in 4 of 5th wave so 5 of 5th is pending can long this with strict sl below 1590 for first target of 1740
cheers
rish

Thursday, November 23, 2006

Apollo Hospitals Plans to Open 500 Indian Drugstores

Apollo Hospitals Enterprise Ltd. plans to open more than two dozen drugstores a month through May 2008 in India, where pharmaceutical sales are growing 10 percent a year.

Apollo, India's biggest health-care company, plans to invest 1.18 billion rupees ($26 million) expanding its chain of pharmacies to 850 from 350 over the next 18 months, K. Padmanabhan, the Chennai-based company's president, said in a telephone interview yesterday.

The company is widening its reach in a country where economic growth and rising household incomes are stoking demand for medicines and health care. Drug sales in India may increase 10 percent this year and next, outpacing global growth of about 7 percent, pharmaceutical research company IMS Health said last month.

Apollo's shares rose 0.2 rupee to end trading at 464.15 rupees on the Bombay Stock Exchange. The stock has declined 7 percent this year.

Apollo also plans to buy more hospitals in the country as the need for medical treatment grows in the world's second-most populated country. It already owns 22 hospitals in India and manages 19 hospitals locally and in countries including Bangladesh and Nigeria.

It's seeking facilities in Mumbai and cities in the Indian states of Uttar Pradesh and Andhra Pradesh, Padmanabhan said.

``We are actively looking at acquisitions of hospitals,'' he said. ``We're looking at valuations.''

Apollo, which hasn't set aside any money for acquisitions so far, has 1 billion rupees in cash available from its sale of securities overseas last year, Padmanabhan said. It would also consider borrowing from banks or the overseas-sale of bonds that can be exchanged for shares to make its purchases, he said.

The company plans to double the number of hospital beds it owns and manages to 14,000 in five years, and is management contracts in the Caribbean including Barbados and the Bahamas.

Microsoft buys 10 per cent stake in TCS China

MUMBAI: Microsoft Co has bought 10 per cent stake in TCS China, a joint venture promoted by India's largest IT services firm Tata Consultancy Services (TCS) and three state-owned Chinese companies.

The US software behemoth on Thursday signed an investment agreement to join the JV, a company release said here. Though the company has not disclosed the investment figures, sources familiar with the development said that Microsoft would pump in $1.4 mil lion for 10 per cent stake in the venture.

With Microsoft's entry, the shareholding of the JV would change. TCS Asia Pacific would now own 65 per cent stake and the Chinese partners 25 per cent, the release said. TCS had last year formed the joint venture with three Chinese companies backed by th e local governments of Beijing and Tianjin.

"TCS China would allow us to provide our clients with the best in technologies at affordable prices, with services delivered at TCS' known global quality processes," Mr Girija Pande, Asia Pacific Head, TCS was quoted as saying.

TCS China would focus on manufacturing, telecom as well as government sectors, it said, adding the company would also concentrate on key technologies with centre of excellence in Microsoft. -PTI

ROLTA


ROLTA trading in 4th of 5th wave and 5th of 5 can start and chart pattern looks like flag pole target of 5th of 5 atleast can be 280can keep sl near yesterdays low
cheers
rish

Wednesday, November 22, 2006

SIEMENS


siemens rockssss.
cheers
rish

Largest contract ever for SIEMENS


Siemens Ltd has announced that a consortium of the Company and Siemens AG, Germany has been awarded a mega contract worth Rs 40,000 million by the Qatar General Electricity and Water Corporation (KAHRAMAA) for development of Phase VII of the Electrical Grid in Qatar. This contract, also the largest ever for the Company, is a repeat order from the same customer. During the last fiscal, Siemens has bagged two contracts amounting to Rs 26,000 million (Rs 2,600 crore) in Qatar. Of these contracts, the Company has already commissioned Phase V and is currently executing Phase VI, which is on schedule.

The scope of the Mega contract is to supply 25 new substations of voltages 220kV/132kV/66kV in addition to extension of 14 substations and renovation of 10 substations. All Substations would be installed with cutting-edge electrical power equipments and Substation Automation systems supplied in-house by Siemens. These stations will be unmanned and controlled by the central load dispatch centre. This order is a fast track project and is slated to be completed in a time span of 22 months.

Mr J Schubert, Managing Director of Siemens Ltd stated, "This export order, the largest in Siemens PTD Worldwide, highlights the inherent strengths and capabilities of Siemens India. Over the years, we have understood our customer's needs, as well as the specific regional requirements. With this approach, we have been able to earn Customer confidence and loyalty, which is strongly backed by the quality and performance of our products and solutions." He also added, "We are once again very happy to partner with Kahramaa in development of Qatar Transmission Network. This win undoubtedly takes us into the global league as a strong and established player in the area of Transmission and Distribution."

Mr Harminder Singh, Director, Siemens Ltd and Head of Power business in India said, "This order, won by the Siemens consortium is a result of intense co-operation between all constituents. While Siemens India, Power Transmission and Distribution Division will play a major role in the execution of the order, we have Specialists and Managers from all over the world working seamlessly together in teams to ensure that project runs completely on schedule, without any compromises. We are very proud that we have been able to bag the biggest order for Siemens PTD worldwide, as well as for Siemens in India. With this mega contract, Siemens continues to maintain its leadership position in the market against some stiff global competition."

Siemens Power Transmission and Distribution Division in India provides products, systems and solutions in the area of medium-voltage and high-voltage switchgear, medium voltage switchboards, high voltage substations, production system, substation automation and power system control and energy management systems.

The Contract Value for Siemens Ltd is Rs 36,000 Million. This order is a fast track project and is slated to be completed in a time span of 22 months.

TATA lands in top 20

Eight Indian business houses have made to the Forbes list of world's most reputed companies, with the country's largest corporate conglomerate Tata group sharing space with the top 20 global firms.
Tatas, the largest Indian group in terms of revenues and market capitalisation, has been ranked at the 20th position among the most reputed company list of Forbes.
Maruti Suzuki, Hero Honda Motors, HLL, ITC, SBI, Infosys and M&M have also managed to find place in the top 200 list.
Italian Food and Tobacco major Barilla Holdings has been ranked at the first position, followed by Denmark's consumer products firm Lego Holdings and German airline Lufthansa at the second and third positions.
Among other Indian companies, Maruti has been ranked at 91st position, Hero Honda Motors at 108th, FMCG major HLL at 116th, ITC and 137th, IT major Infosys at 155th and automotive giant Mahindra & Mahindra has been placed at 189th position.
Tata is the only Indian entity in the top 20 of the list of world's 600 largest companies in terms of corporate reputation.
The Tata group has more than over 90 operating companies, with strong international presence in Automobile, steel, IT and services sectors, with total revenue of $24 billion and a market capitalisation of $47 billion.
courtesy:- economics times

NSE CHANNEL

Tuesday, November 21, 2006

APTECH



APTECH probably a start of fifth wave above 144 will have a smooth ride keep sl at 132
cheers
rish

ARCHIES


archies looks like in a process of completing full cycle 5 impulsive and 3 corrective waves now can keep an eye on red line which will indicate the start of a new wave cycle above 171 it will be good to make a long position in it.
cheers
rish

IPO BULL

MUMBAI: Shares in Internet firm Info Edge (India) Ltd debuted at Rs 491 on the BSE on Tuesday, up 53.4 per cent to the initial public offering (IPO) price of Rs 320 per share. At 2.30 pm, it was quoted even higher at Rs 605 on volumes of 59.54 lakh share s. It touched a high of Rs 605 during the day.

The pricing was at the top end of the indicated Rs 290-Rs 320 price band. The firm's 5.32-million-share offer was bid more than 50 times.

Monday, November 20, 2006

Anil Ambani plans global M&A fund

Anil Ambani is in talks with George Soros, private equity firm Blackstone and Singapore state investment firm Temasek about launching a $5 billion global buyout fund, a paper reported on Monday.

Ambani, one of richest men who controls top CDMA-mobile services provider, Reliance Communications Ltd, has put up $500 million of his personal wealth and has received commitments of up to $2.5 billion from other investors, the Economic Times said.

The fund, which was likely to be based in Singapore, would focus on firms in telecoms, media, communications technology, software, IT-related and broadband services, the paper said, quoting people familiar with the development.

The fund could look for "big-ticket acquisitions" in Asia and the Middle-East, the paper said.

courtesy:- sify finance

Sunday, November 19, 2006

BANK OF INDIA


bank of india bounced from channel top after small consolidation intraday looks quite strong above 197 and can turn weak below 187 upper target comes near 210+ above 197
cheers
rish

ps:-do check market trend before entering the trade

TIGER VS DRAGON


Firms likely to benefit from nuclear deal


The US Senate action put India closer to being able to purchase US nuclear fuel, reactors and related technology.

It has overwhelmingly endorsed a plan to allow US civilian nuclear fuel shipments to India, handing President George W Bush an important victory on one of his top foreign policy initiatives.

Senior lawmakers championed the proposal, which would reverse decades of US anti-proliferation policy.

They said that it strengthens a strategic relationship with a friendly country that has long maintained what the United States considers a responsible nuclear program.

Nuke deal beneficiaries


BHELL&T
Areva T&DNTPC
Reliance EnergyRolta
SiemensABB
Alstom ProjectsCrompton Greaves
HCCGammon


Power generation

Back home, an
alysts have welcomed the Senate approval. "This is a positive development from India's perspective," said Amitabh Chakraborty, Head - PCG, Brics Securities.

The Senate action was critical to help allow India meet its soaring energy needs.

"This is a positive develop
ment for the nuclear power programme in India," said Amitabh Mundhra, Director, Simplex Infrastructure.

The government plans to double the country's power generation capacity that currently stands at 1,250,000 MW.

According to
estimates, India country would need additional 100,000 MW of power by 2012.

"The government has announced its intention and put in more nuclear power. More reactors will be put in place going forward. The deal can give raw material for projects and opens up equipment export avenues," added M V Kotwal, Director, Larsen & Toubro.

Of the total p
ower generated, thermal power constitutes the maximum at 57 per cent followed by hydel power at 25 per cent. Nuclear energy constitutes a meager 3 per cent and this is likely to go up three fold by 2015.

Ashu Kakkar, a technical analyst suggests that potential investors can look into buying L&T, HCC and Gammon India from a long-term perspective.
courtesy:- ndtv profit

Saturday, November 18, 2006

BHARTI YET TO DECIDE BETWEEN WALMART & TESCO

Bharti’s partner for its much awaited retail foray is likely to be finalised shortly. In the face of speculation about its partner - Tesco or Walmart, Bharti Enterprises chairman Sunil Mittal said a final decision has not yet been taken in the matter.

“We are going through the process of finalising the details. No decision has been taken as yet, we are engaged in an inward process that seeks to tie-up all details. We will shortly make an announcement,” Mittal said,

He added details like the size of the investment, the brand name had not been finalised and would happen only after the partner is decided.

It may be recalled that Bharti had been planning an ambitious retail foray, separate from its existing farm produce venture, for over a year now. The company has talked with the likes of Tesco, Walmart and even Carrefour. Till date, Tesco has been seen as the leading contender for partnering Bharti.

Friday, November 17, 2006

nifty intraday 17th nov

US SENATE APPROVES INDIA NUCLEAR DEAL


The US Senate has overwhelmingly voted to pass a controversial deal to share civilian nuclear technology with India.

The deal was proposed over a year ago as a way to boost ties with a strategic ally. In exchange, India must allow the US to inspect its civilian reactors.
Critics have argued the agreement will be detrimental to global anti-nuclear proliferation efforts.But President George W Bush hailed the move as bringing India into the "nuclear non-proliferation mainstream".

"As India's economy continues to grow, this partnership will help India meet its energy needs without increasing air pollution and greenhouse gas emissions," he said.

The legislation was adopted by 85 votes to 12 in the Senate after a series of proposed amendments - which India had opposed - were defeated.The Senate bill and a version passed by the House of Representatives, the lower house of the American parliament, must be reconciled and approved by Mr Bush before the legislation can take effect. Important fillip

The deal is a "lasting incentive" for India not to test nuclear weapons and "to co-operate closely with the United States in stopping proliferation", Senator Richard Lugar said as the upper house of the American parliament began debating the bill. Correspondents say that once the legislation is eventually approved, the initiative will overturn decades of US anti-proliferation policy.

They say that while success for the bill in the Senate hands President George W Bush an important fillip, several obstacles loom before the two countries can begin trade in civilian nuclear materials.

India would need to get approval for the deal from the Nuclear Suppliers Group, an assembly of nations that export nuclear material.Delhi would also need to negotiate a safeguard agreement with the UN nuclear watchdog, the International Atomic Energy Agency.There is also some concern about the transfer of missile technology to Iran by at least two Indian firms, recently black-listed by the US government.

Overwhelming majority

Once those hurdles have been overcome, technical negotiations would need to be completed between the two countries before Congress holds another vote on the overall deal.The BBC's Shahzeb Jillani in Washington says that the Bush administration sees the deal as one of its most important foreign policy initiatives.Overall, the agreement has enjoyed strong bipartisan support among US lawmakers.Earlier this year, the House of Representatives passed its version of the bill with an overwhelming majority.

The Indian Prime Minister, Manmohan Singh, strongly defended the deal in the Indian parliament in August.

He said India would not accept any move by Washington that would impede its atomic weapons programme, nor would it allow any international scrutiny of its military facilities.

But Mr Singh also argued that the deal was in India's interests.
He said mass poverty could only be removed by a fast expanding economy, which in turn needed energy.
courtesy :- BBC NEWS

US SENATE APPROVES INDIA NUCLEAR DEAL


The US Senate has overwhelmingly voted to pass a controversial deal to share civilian nuclear technology with India.

The deal was proposed over a year ago as a way to boost ties with a strategic ally. In exchange, India must allow the US to inspect its civilian reactors.
Critics have argued the agreement will be detrimental to global anti-nuclear proliferation efforts.But President George W Bush hailed the move as bringing India into the "nuclear non-proliferation mainstream".

"As India's economy continues to grow, this partnership will help India meet its energy needs without increasing air pollution and greenhouse gas emissions," he said.

The legislation was adopted by 85 votes to 12 in the Senate after a series of proposed amendments - which India had opposed - were defeated.The Senate bill and a version passed by the House of Representatives, the lower house of the American parliament, must be reconciled and approved by Mr Bush before the legislation can take effect. Important fillip

The deal is a "lasting incentive" for India not to test nuclear weapons and "to co-operate closely with the United States in stopping proliferation", Senator Richard Lugar said as the upper house of the American parliament began debating the bill. Correspondents say that once the legislation is eventually approved, the initiative will overturn decades of US anti-proliferation policy.

They say that while success for the bill in the Senate hands President George W Bush an important fillip, several obstacles loom before the two countries can begin trade in civilian nuclear materials.

India would need to get approval for the deal from the Nuclear Suppliers Group, an assembly of nations that export nuclear material.Delhi would also need to negotiate a safeguard agreement with the UN nuclear watchdog, the International Atomic Energy Agency.There is also some concern about the transfer of missile technology to Iran by at least two Indian firms, recently black-listed by the US government.

Overwhelming majority

Once those hurdles have been overcome, technical negotiations would need to be completed between the two countries before Congress holds another vote on the overall deal.The BBC's Shahzeb Jillani in Washington says that the Bush administration sees the deal as one of its most important foreign policy initiatives.Overall, the agreement has enjoyed strong bipartisan support among US lawmakers.Earlier this year, the House of Representatives passed its version of the bill with an overwhelming majority.

The Indian Prime Minister, Manmohan Singh, strongly defended the deal in the Indian parliament in August.

He said India would not accept any move by Washington that would impede its atomic weapons programme, nor would it allow any international scrutiny of its military facilities.

But Mr Singh also argued that the deal was in India's interests.
He said mass poverty could only be removed by a fast expanding economy, which in turn needed energy.
courtesy :- BBC NEWS

Thursday, November 16, 2006

NIFTY INTRADAY 16TH NOV

acquisitions and orders raining for TCS

Tata Consultancy Services (TCS) has bagged a contract from US-based pharmaceutical company Eli Lilly to provide services in clinical data management, statistical analysis and medical writing for the US firm.According to the release issued by TCS, as per the agreement, the company will also establish a medical information sciences centre in Noida.

"The Lilly-TCS engagement will help us aggressively position as a full services player in the emerging life sciences and healthcare sector," N Chandrasekaran, executive VP, TCS, said Though TCS has not yet disclosed the size of the deal, analysts and investment bankers here said that the contract could be worth $35-40 million.The deal is TCS's second pharma outsourcing contract. Last year, it had bagged a contract from Novo Nordisk for clinical trial data management

Wednesday, November 15, 2006

BL KASHYAP



BL KASHYAP looks to hv finished 3rd wave and presebtly trading in 4th corrective wave a sl near 1300 and buying in dip is reccomended can see sharp rise above slanting dotted line
cheers
rish

Tuesday, November 14, 2006

NIFTY INTRADAY



NIFTY third wave going on wait for ABC correction of 4th wave to think of shorting (looks to be near completion 3rd wave )so patience is the buzz word.
cheers
rish

CEAT



CEAT looks like has finished 4th corrective wave and should start its fifth bullish wave a 2 days close above 130 should signal start of fifth wave so on upside we have targets as 138 and 150+ can be bought in dips .
cheers
rish