What a week it has been till now. Indian markets bouncing back from 8600 levels to 9257 levels in the last 3 trading sessions has been amazing. There are more good news in flow over the development in the last few hours. The Govt has announced fuel prices cut yesterday night. It has decided to cut petrol prices by Rs 5 per litre, diesel prices by Rs 2 and LPG prices too this time were slashed by Rs 25 per cylinder.

The move is seen from different views now given that the election season is round the corner. This was the second time when GOvt has cut the fuel prices in the last 2 months. It will surely help to bring down inflation further and boost the Indian share markets ahead. Sensex closed 2.81% up at 9257 levels yesterday and nifty was by 2.74% at 2849 levels. The major resistance of 2800 on nifty took some time to get crossed.

Meanwhile another positive development which has come up is that the Obama Govt has passed the historical $819 Billion bail out package yesterday night in Congress. This news along with Fed keeping the interest rates close to zero for a while boosted the US markets. Dow managed to close 2.46% up and Nasdaq was up by 3.55% yesterday. Reacting to that the Asian markets have opened in green now. Nikkei-225 is trading up by 1.66% and Hang Seng is up by 5.49% currently. So certainly we will see a huge gap up opening today in the Indian share markets.

Some intra day trading calls for today :

Buy Zee Entertainment above 110, Stop Loss : 106, Target : 113, 115

Buy Axis Bank above 425, Stop Loss: 418, Target : 435, 440

Buy JSW Steel Above 205, Stop Loss: 201, Target : 212,215

Buy Sail Above 80, Stop Loss : 77, Target : 85, 88

Buy Akruti Above: 895, Stop Loss: 880, Target : 925,930

Buy Cairn Above : 173, Stop Loss: 168, Target : 178,182

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