The inflation figures are inching towards the 12-13% expected levels. On Friday the latest figures came in.For the week ending Jun 21, the inflation stands at 11.63% versus 11.42% in the previous week. But the markets are slowly getting used to the higher inflation figures and unlike previous weeks the markets held on to the gains. And finally sensex ended the day with gains of 360 points over its previous close. Nifty gained 90 points to close just above the psychological barrier of 4,000 points.

Now thats an important level for the nifty. Tougher times are ahead though.Finance ministry is expecting inflation to go to 13% in coming days. Over the week,sensex lost 2.5% and nifty lost 3%. Infact from May16 the sensex has lost close to 25% of its worth. The markets were held by power,realty,banking and capital goods stocks.

The corporate results will start soon for Q1 ,2008 from Infosys on Jul 11th. The IT companies are expected to put up a decent show this time owing to Rupee-Dollar equation. So for coming days IT stocks will be a good hedge along with Pharma stocks. The Asian markets are on a upside move and Nikkei-225 is up after a long-long time.So the Indian markets are also expected to follow the cue today.

Some intra day calls for today: Jsw Holdings(cmp 698),Akruti City(cmp 727),SREI infra(cmp 96),Nagarjuna construction(cmp 125),GAIL(cmp 312),TV Today Network(cmp 86),GVK power(cmp 32),GMR Infra(cmp 86),JaiPrakash Asso(cmp 153),Voltas(cmp 123).

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