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Monday, June 20, 2011

Nifty:DEEP red

That Mauritius news came out of nowhere. On such sudden and BIG news days , Technical go to HELL. BIG RED candle day but it was interesting to note where NIFTY stopped . It sure broke one trend  line. But stopped on a MAJOR one . Infact that is the one which was forming something off a perfect PARALLEL CHANNEL..

Expecting a little bounce to touch that RED trend line which was broken . That should give another shorting opportunity. Lets see.

MAuritius update:  The story is here: "  A chunk of foreign investment in the stock market comes through companies registered in the Indian Ocean island. 

The tax treaty provides that capital gains arising in India for these companies from the sale of securities can only be taxed in Mauritius. The island nation does not tax capital gains, leading to zero taxation for the firms. 

The two countries are expected to review the treaty soon, a source in the finance ministry said, but declined to elaborate on the time-frame."  

The govt has denied that there was any talk of any review though::


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