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Posted by Shyam as IntraDay Calls
Among the concerns of the double digit inflation rates of 11.3%, the RBI has decided to hike the repo rate and Cash reserve ratio by 50 basis points each. But fortunately the markets reacted positively yesterday to this piece of news and finally ended the day gaining 113 points. Indian share markets were in the losing streak in the last 5 trading sessions.
Meanwhile the Fed has decided to keep its key rates steady and not increase them any more also due to the inflation concerns. Because if the Fed rates are decreased then money is easily pumped into the system which increases the purchasing power of the people. Dow closed flat but Nasdaq ended the day gaining 1.4% roughly. Reacting to this the Asian markets are trading higher today. And the Indian markets are also expected to do well in todays trade.
Some intra day calls for today include: Nagarjuna Fertilizers(cmp 38), India Bulls Financial service(cmp 273), D-Link(cmp 79),ING Vysya Bank(cmp 205), UCO Bank(cmp 34.6), Voltas(cmp 126), Chambal Fertilizers(cmp 76),Nagarjuna constructions(cmp 146), Walchandnagar(cmp 271), Orbit Corp(cmp 336).
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