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Showing posts from August 2, 2011

All you want to know about the US debt deal

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After weeks of political brinkmanship, the Democrats and the Republicans agreed to a compromise deal late Sunday evening to raise the US debt ceiling from the current $14.3 trillion by about $2.4 trillion and simultaneously cut spending by an equivalent amount.

The US had breached the borrowing limit on May 16, and if Congress did not raise it further by August 2, the country would have run out of money to pay interest and principal on Treasury bonds-an unprecedented event in American history-as well as for other expenses such as social security and medicare benefits.

The US federal law requires Congress to authorise any increase in borrowing to spend on approved programmes.
Here is what the deal is all about:
Debt ceiling:

To be raised by up to $2.4 trillion in three stages, enough to enable the government to function till 2012 end; $400 billion right away, another $500 billion later this year, subject to vote of disapproval; and a third increase of $1.5 trillion after a special congres…
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NF (5529) - All Levels remain same : Last hope and support 5500-5480 (Already last Three days hold this support level) Upside Resistance 5550 and above that Face Hurdle at 5650-5670 But below 5500-5480, shortly take it down to 5304-5294 in between support at 5425

Everonn Education

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EVERONN (566) - Hurdle 576-596 But above that ultimate upside target 680_700

Jubilant Foodworks

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JUBLFOOD (892) - Support 886-870
above this upside target 925-945 & 995
Top out at 1030-1050

Muthoot Finance

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MUTHOOTFIN (191) - Support 185-180 above this upside target 216-220

Ranbaxy Laboratories

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RANBAXY (561) -  If trade and stays above 560 upmove continue to 580 & 596

Raymond

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Reliance Capital

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RELCAPITAL (553) - Posted on 13th July "Hurdle 605-615, for this down target 560-550" As posted it hurdled at 605-615 level not one time but three times and made high 613 & 609 from there yesterday it attakced the mentioned target of 550. now if trade below 550 as posted on 13th july,  last hope and support 538-533.

Shriram Transport Finance Company

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SRTRANSFIN (628) - Below 650 down target 590_570

Jindal South West Holdings

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JINDALSWHL (746) - Last hope and support 710-700
But below that, take it down to 465-445

Wockhardt

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WOCKPHARMA (465) - Now support 460-440 . Above this upside target 530_560

JSW Steel

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JSWSTEEL (695) - Posted on 12th July "below 821 down target 730" whereas yesterday it even broke 730 and came down to 671 also. Now what next ? Last hope and support 650-640
But below that fall continue to 487-477.