Expiry Today

Today's expiry was a dampner. Hardly any volume.

I wanted to start with the answer to query in last post but somehow that will have to wait till weekend. Don't have enough time right now.

Few things which I will touch upon during the weekend will be S&P Outlook for India, Latest happenings in Europe, Trade for coming series and off course the Credit Card query.

Lot of things have happened since I wrote last... Apart from S&P, RBI cut the interest rate and in less than couple of weeks, bond yields are back to the same level as before rate cut. So much for the surprise 50 point cut.

Have to play catch up and will do just that.

Technical Analysis

Thanks Friends... As per your wish, I will continue with the Technical Analysis tutorial I started on Equity Blog. Before I get on with that, I hope you guys are also aware of the one time blog on Credit Cards that I wrote for some very specific people who needed help. This blog is also finding some other readers.

One such friend recently asked a question which I am reproducing here;

'Hi Ethical trader,
I have read your credit card posts they are very informative .. many thanks for that.
Dear Friend can you please help me on this. 

I had taken a HDFC credit card in 2010 with a limit of 20000 used it for close to 1 year. i have always paid bills on time and never had any dues. But for 1 particular month i got a bill charging Rs 550 extra. i spoke to the call center and they said it was due to late payment and i never did any late payment. so i had paid off that months bill leaving this 550 and asked them to discontinue the card and told them that i would not pay 550. card was disabled in around april of 2011. They never sent any bill and card did not work. i thought the thing is closed. But last month when i went to bank for a credit card. They said i had a due of Rs 5000. I was shocked. When asked why was i not sent any bill..they didnt answer anything. They said they call the customer when the due is more than 6000 or so. I have a salary account and this credit card was tagged to it. Am afraid they would debit this amount from my account without any notice. What is the worst senario here. What can i do on this. Sorry for the long question .. but please take time to guide me on this. Many many thanks in advance'

The original post and comment can be found here.

First of all my apologies to the reader for late response but I will write a detailed reply soon. Stay tuned...

Apologies

Hey guys, I am sorry for doing the hollow man (disappearing) act once again. My mailbox was crying out loud as a proof of how angry you guys are.

This time though I was not having any problem in writing. I was just kind of disappointed with the budget. Not that it was a bad budget, but it did not create any sensation. There was hardly any noteworthy change in Income Tax slabs... reduction in STT was a good move though. There is another change of Service Tax which was expected.

I guess it may be kind of late now for a budget post so I am more inclined towards a trade post or a post on Equity Blog to continue our Technical Analysis series.

Do lemme know what you prefer?