NIFTY SPOT closed in Red for JULY & AUGUST as per our Forecasting on 1 July based on monthly charts pattern

See below, how we clearly told that JULY AND AUGUST months will close in red for Nifty Spot based upon monthly chart. OUR SMS WAS SENT ON 1^ST JULY 2011.

NIFTY SPOT MONTHLY PRICES:

MONTH	CLOSE PRICE	HOW MUCH LOWER THAN PREVIOUS MONTH CLOSE
JUNE 2011	5647.40	-
JULY 2011	5482	165.4 POINTS
AUG 2011	5001	481 POINTS
SEPT 2011	Expected to close the month abv 5001	subject to technical updates

NIFTY SPOT MONTHLY CHART:

Please click on the image to see in full size,

BELOW IS THE PRINTSCREEN OF THE SMS SENT:

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Please click on the image to see in full size, (YOU WILL NOTICE IN THE MSG THAT WORD 'WILL' IS USED TWICE, this shows our certainty. We have not used word like 'may','might',or 'can' or possible etc.

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Inflation drags down Indians’ Savings rate at 15 year low

According to a recent publication by RBI (Reserve Bank of India), the central bank of India; the rate of net financial savings of Indians’ have come down below 10% of GDP (Gross Domestic Product).

It was at 12% of GDP in 2010 while for 2011, the RBI figure is 9.7%. Stunningly this is the lowest level in last 15 years.

Economists and RBI official say sustained inflation in basic necessity products is the main culprit for this situation which is eating up extra into pockets of Indian consumers. They also believe once the inflation moderates, the savings rate should also improve again.

The financial savings of Indians’ includes cash, currencies, bank deposits, corporate of other type of deposits, shares debentures, mutual funds, life insurance, pension funds and other types of small savings schemes.

The RBI also said that there also has been an increase in household liabilities, mainly due to debt taken from commercial banks at higher rates.