Beyond Money
Karmayogi Pratisthan the Able Guide

The one source that a Mumbaikar can tap for information on any civic issue or education, is, a website run by Karmayogi Pratisthan 

In the year 2002, after eight years in the US, a young, rank-holding engineer, Gaurang Damani, returned to India, determined to make a difference. He passionately believed that the time had come for India to take its ‘rightful place’ in the world. But it was easier said than done. 
In 2003, he set up Karmayogi Pratisthan, a not-for-profit organisation aimed at building awareness and empowering people about how to deal with everyday problems. Karmayoga, in a nutshell, is described as ‘selfless service unto humanity’ and that is what the Pratisthan does through regular blood donation camps, distribution of educational material, school notebooks, financial assistance for deserving students, as well as a host of other activities like beautification of precincts, better traffic management and countering harassment of people through mindless government actions such as unauthorised towing of cars. 
Along with this action on the ground, Gaurang decided to use his information technology background to create a go-to place called for absolutely whatever information that a person, especially a Mumbaikar, would ever need in life. So if you need an election card, ration card, senior citizen card, birth certificate, death certificate, marriage certificate, or information on hostels, ambulances, eye banks, helplines or counselling facilities (for AIDs, senior citizens, ragging, abuse, etc) and don’t know how to find it, just log on to the website. That’s not all. If you want to know how to deal with mosquito infestation, dangerously overgrown trees, report traffic issues, learn about rainwater harvesting or file any civic complaint, you can get information and leads on 
The best feature of the website is that it provides names and numbers of all police stations and of Mumbai’s 227 wards. Asked why he had posted contact details of officials, Gaurang says, “Often, we find scamsters posing as municipal officials. They fine people for things like car washing or putting window grills. So if someone intimidates you claiming to be a civic official, you should ask for their ID cards and know your rights before paying any money.”
Dealing with the police also tends to confuse and frighten people. So the website informs people about their rights as well as how to file complaints, what is a first information report (FIR) and the difference between a bailable and non-bailable offence and arrest. The same goes for towing and traffic fines, where Gaurang has filed and won a successful litigation against unauthorised towing of vehicles in Mumbai. 
Another useful segment of deals with the Right to Information (RTI) Act. It provides practical tips (and samples) on how to file successful applications and detailed guidance on the first and second appeal process. Gaurang is himself a successful user of RTI and has even conducted a clinic on RTI for Moneylife Foundation. A special section covers everything you need to know about buying, renting, repairing a flat or re-developing an entire building. In addition to this, the section includes useful links to government websites for details. 
Empowerment through information (including contact details of your corporator, MLA and MP) is Gaurang’s formula to a better society and he is constantly seeking feedback on how to add, improve and update the information provided. How is all this funded? Gaurang says he does not need aggressive fund-raising. The money comes from his own resources and support from friends and well-wishers. Committed volunteers from his locality (the Dadar-Matunga-Wadala-Sion area in Mumbai) invariably join him in various campaigns for blood and organ donations, distribution of schoolbooks or providing medicine to the needy. Donations to Karmayogi Pratishtan are eligible for tax deduction under Section 80G of the Income Tax Act. 
Karmayogi Pratishtan 
11th floor, Avanti Apartments,  
A Wing, Flat No 2, Opp Gandhi Market, 
Flank Road, Sion (East), Mumbai 400022


Upmove stalled: Weekly Market Report

The Nifty may find its first support at 5,295  

The market closed with modest gains in the holiday-shortened week, making it the fourth weekly close in the positive. Global cues and positive corporate news supported the gains. However, the stand-off by the opposition in Parliament is expected to weigh on the market, going ahead. GDP data for the June quarter, which will be released on 31st August, will also be keenly watched by investors.
The Sensex closed the week at 17,783, up 92 points (0.52%) and the Nifty settled 20 points (0.38%) up at 5,387. The market is now showing signs of exhaustion.  If the Nifty breaches Friday’s low of 5,371, we may see it finding support at 5,295.
Coming back after an extended weekend, the market settled over 1% higher on Tuesday on upbeat corporate news and global support. The market snapped its two-day winning streak on Wednesday on unsupportive global cues and the political stand-off in Parliament. 
The benchmarks settled flat on Thursday on pressure from oil & gas and auto sectors. On Friday, the indices settled lower on weak global cues and selling in capital goods and banking stocks.
BSE IT (up 3%) and BSE TECk (up 2%) were the top sectoral gainers in the week while BSE Realty (down 3%) and BSE Oil & Gas (down 1%) stood at the bottom of the index.
Coal India (up 5%), Infosys, TCS (up 4% each), Cipla and Hindustan Lever (up 3% each) were the top Sensex gainers. The losers were led by Bharti Airtel (down 5%), Reliance Industries (down 4%), Hindalco Industries (down 3%), Larsen & Toubro and Tata Steel (down 2% each).
The Nifty was led by Ranbaxy Laboratories (up 7%), Coal India (up 5%), Bharat Petroleum Corporation, Infosys (up 4% each) and TCS (up 3%). The key losers on the index were Bharti Airtel, Reliance Infrastructure (down 5% each), RIL (down 4%), Axis Bank (down 3%) and Hindalco Ind (down 2%).
Retail inflation declined marginally to 9.86% in July due to lower prices of spices, cereals and its products although prices of vegetables remained high during the month. Based on the Consumer Price Index (CPI), the inflation for June 2012 was revised downwards to 9.93% from the provisional estimate of 10.02%.
The deadlock in Parliament is set to enter the second week with no signals of a thaw emerging between the BJP and the government on the CAG report on coal blocks allocation issue. BJP leaders are contending the Coalgate issue has presented them the best opportunity with the CAG speaking of “undue benefits” of Rs1.86 lakh crore in coal block allocations.
On the international front, US Federal Reserve chief Ben Bernanke in a letter to a Congressional oversight panel said, “There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery.” His speech at the annual symposium in Jackson Hole, Wyoming, will be keenly watched for further action from the country’s central bank.
Meanwhile, Greek prime minister Antonis Samaras on Friday said that his country does not need additional funds, but “time to breathe” so that it can return to growth.


Weekly Nifty View: Volumes poor as the fight for control remains in balance

While the Nifty has been holding around the 5,400 mark, the bulls were unable to make any headway even though they have been in control. One will have to wait for the market to decide its immediate future course

S&P Nifty close: 5,386.70
Market Trend


Short Term: Up                              Medium Term: Down                        Long Term: Down

The bulls succeeded in pushing the Nifty steadily higher through most of the week before easing off a bit at the end. The Nifty finally closed 20 points (+0.38%) in the green but failed to close decisively above trendline resistance shown in black. The volumes were marginally lower than last week implying that the even though the bulls are in control they have not been able to push the Nifty into the higher gear. The week ended at deuce on poor volumes as nor the bulls or bears failed to make any headway, leaving the future course of the market in suspended animation. However, the onus is on the bulls to push higher because they are the ones who have been in control.

The sectoral indices which outperformed were CNX IT (+3.18%), CNX MNC (+1.74%) and CNX PHARMA (+1.38%) while the underperformers were CNX REALTY (-2.20%), CNX INFRA (-1.86%), CNX MEDIA (-1.74%), CNX ENERGY (-1.32%) and CNX PSU BANK (-1.04%). The histogram MACD has moved up in line with the rise in the Nifty and as long as it remains above the median level the bulls are in control.


Here are some key levels to watch out for this week

As long as the S&P Nifty stays below 5,401 points (pivot) the bulls can breathe a bit easy though the bears continue to be in control.

Support levels in declines are pegged at 5,354 and 5,321 points.

Resistance levels on the upside are pegged at 5,433 and 5,481 points.


Some Observations

  1. The Nifty continued its upward march to make a recent new high but the volumes were lower than last week.
  2. The ‘gap’ area between 5,246 and 5 260 has to be defended by the bulls at all cost or else they would find the going tough.
  3. We saw the Nifty move briefly above the resistance line (in black) but it pulled back to close around it.
  4. We head into the 5th week from the recent low of 5,032 points.
  5. The volatility of the week has contracted and we are expecting an expansion of this in the near future. It will be certainly worth the wait as we will get a swift move in the direction it decides to take.


We saw the bulls succeeded in holding the Nifty around the 5,400 mark, but on the other hand they were unable to make any headway even though they have been in control. The volumes continued to be poor and the volatility has shrunk, expecting us to believe that a swift either side move is likely as it expands, but there is no clue as to the direction as yet. The simplest stop loss one can keep on longs is the last week’s low of 5,368 points in close as we wait for the market to decide its immediate future course. One thing is clear that the bulls hold the edge even though the volumes are poor and they have not been able to make any headway in the last couple of weeks.

(Vidur Pendharkar works as a consultant technical analyst & chief strategist at



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