It was one such news which came on last Friday which confirms that the worst is over for Indian economy. On last Friday the GDP numbers for the fiscal year 2009 came in and it was better than expected. In the quarter ended March 2009 Indian GDP grew at 5.8% and the GDP growth rate for the whole year stood at 6.7%. Some analyst are predicting a GDP growth rate of 7.1% in the Fiscal year 2010.

A GDP growth rate of 7.1% looks very much feasible given the economic situation is on a upward growth trajectory. The US is also performing less badly than what the govt was expecting it to be. There is also a news that FIIs purchased equity in the Indian markets worth $4 Billion. And the total inflow from FIIs in 2009 has crossed $4 Billion by now. That is one reason why we are seeing a non stop rise in the Indian markets.

On Friday when the GDP figures came in, the market was jubiliant and reacted in a positive manner. Sensex closed up by 330 points at 14,625 levels and nifty closed at 4449 levels gaining 112 points. In the last week Metals, Realty and Consumer Goods gained the most. Book partial profits when nifty touches 4500, because we can as well see a sharp correction any time. Movement above 4500 levels would depend upon the global cues also.

Here are some intra day calls for June 1st 2009.

India Bulls Real Estate

Buy  Above 248 Target 255, 259 StopLoss :243

Short Sell Below 243 Target 237, 235  Stop Loss: 246

IVRCL Infrastructure

Buy  Above 331 Target 340, 345 StopLoss :324

Short Sell Below 318 Target 314, 312  Stop Loss:322

Nagarjuna Construction

Buy  Above 140 Target 144, 148 StopLoss :136

Short Sell Below 134 Target 130, 128  Stop Loss:137

Apply strict stop loss values in the intra day trading tips.

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