>Ranbaxy Analysis

Ranbaxy the corrective 5 down is near its fag end the break below 240
confirmed its journey towards 200.
The assumption here remains simple wave 5 could be of traveling atleast the same distance
traveled by wave 1.

Anyone who likes Ranbaxy as a company should start investing from 200 onwards,Of Course buy in bits.Don't just buy in one shot.Ranbaxy would enjoy support of two countries INDIA as well as JAPAN.
"We are delighted to announce the realization of the global alliance with Ranbaxy. Two strong presences in innovation and the fast growing business of nonproprietary pharmaceuticals united, this hybrid business model will boost Daiichi Sankyo to achieve our goal to become a world-class pharmaceutical innovator, a global pharma innovator," Daiichi Sankyo President & Chief Executive Takashi Shoda said in a joint statement.
Can read more about it here Ranbaxy The Japanese MNC!!!
Previously posted Ranbaxy call Ranbaxy .

Regards
Rish

>Steel Sector

Current scenario: Government may impose import duty to avoid dumping by China..

Import duty on steel was removed and export duty was levied in April 08 to rein in inflationary pressures. Consequently,steel imports between April 08 and September 08 rose by 50% to about 3 mt as prices in China,

Thailand and Ukraine were ruling below domestic prices. With competitive pricing and slowdown in domestic demand, China's total steel exports globally rose to a record 7.8 mt in August 08. However, as international steel prices subsided, landed cost of imported Chinese steel dropped to $700/ton in India as against the domestic price of $750. China-based steel producers, backed by cheaper operating costs in met coal and power, have a significant price advantage over the domestic players.

There is a difference of $150 between Chinese and Indian domestic and export prices (Chinese domestic price is $600 and export price is $700, whereas Indian domestic and export prices are $750 and $850 respectively). Facing an overall economic slowdown, consumers are opting for cheaper Chinese steel, whose share in India's steel import basket surged from 10% in April 08 to about 48% in August 08.

To avoid large-scale dumping and protect domestic players, the government, responding to industry demands, may levy import duty to 15%, remove export duty (currently 15%) and reduce excise duty from 14.4% to 8%. There has been no capacity expansion in the past quarter with key players including JSW delaying the commissioning of their plants by over two months owing to current market conditions. Indian steel makers may have to cut production by 30% and continue to postpone expansion projects if the government does not act.

If govt responds favourably it would help domestic players more Sail and JSW steel ,Whereas it wont make much diffrence to Tata steel .The same CORUS which was once Tata steel's delight is haunting it.

Technically

Sail looks much better than Tata steel ,Sail looks like may take support near 80-85.
Tata steel looks like a wave extension case.A Close below 230 will target 200-180 atleast.
Plan your buys accordingly ,My views are for traders.

Regards
Rish

>Norway's oil fund to put $2 bn in India stocks

Norway's sovereign wealth fund plans to invest $2 billion in Indian stocks over the next three months, a Norwegian embassy official said on Wednesday.

"The deputy secretary general at the finance ministry (of Norway) said that sovereign wealth fund is going to invest $2 billion in Indian stocks," Lasse Johannessen, minister counsellor at the Norway embassy in Indian capital, said.

"This money is going to be invested from now until Jan 2009," he said, citing the Norwegian finance ministry official.

Johannessen said the fund would increase India's weighting to 0.94 per cent from 0.2 per cent in its overall portfolio.

Familiarly known as "the oil fund", the Government Pension Fund -- Global invests Norway's oil and gas wealth in foreign stocks and bonds. It is Europe's biggest equity investor.

>Amibroker Formula language (AFL's)

Hi Friends,
Uploading few more AFL's ,If you like them download them fast as
They get deleted after some time.These AFL's will work only with AMIBROKER
also you should know how to use them.
Here is the list


1 Head & Shoulders Pattern.afl

2 Pattern Recognition Exploration.afl


3 Woodie's Intraday CCI.afl



Regards

Rish