Showing posts from February 13, 2012

Black Money: Indians have stashed over $500 billion in banks abroad, says CBI

Indians are the largest depositors in banks abroad with an estimated 500 billion US dollars (nearly Rs 24.5 lakh crore) of illegal money stashed by them in tax havens, the CBI Director said today.

India, in particular, has suffered from the flow of illegal funds to
tax havens such as Mauritius, Switzerland, Lichtenstein, British Virgin islands etc.

"It is estimated that around 500 billion dollars of illegal money belonging to Indians is deposited in tax havens abroad. Largest depositors in Swiss Banks are also reported to be Indians," CBI Director A P Singh said speaking at the inauguration of first
interpol global programme on anti-corruption and asset recovery.

He said getting information about such illegal transactions is a time taking process as investigators have to peel each layer by sending judicial requests to the country where such deposits have been made.

"53 per cent of the countries said to be least corrupt by the
Transparency International Index are offs…
NF (5388) -  All levels  are remain same :
Resistance 5392-5422
But above that upside target  5503-5533
and  below that down target  5330-5300.

{  5533-5503 << 5422-5392 >> 5330-5300  }

Punjab National Bank

PNB (1008) -   As already posted here Hurdle remain same 1005-1025
But in case trade and stays above that upside target 1114-1134
In between minor resist at 1075

Tata Chemicals

TATACHEM (357) - Trade and stays above 360-364
Up side target 419
in between resist at  371-378  &  388-394

Tata Steel

TATASTEEL (475) -  Face resistance 482-492
But above that up side target  529-539


WIPRO (449) - As posted on 26th Dec. and reminder on 04th Jan. It took support the mentioned level of 392-390 and last friday it attacked the mentioned upside target of 445-455 (made high 450 )

what next ?
Trade and stays above 455-445 then up move continue to 490-500
otherwise expect correction from here.