The positive close and beyond...……

The markets are strong above 4262-65 level and maintained the level throughout the day and closed at 4332 level well above the basic support levels suggested in the earlier write-ups. The inflation for the 19 July was at 11.98% Vs 11.89% over the previous week. The analysts are happy over the number at the rate growth was a bit moderate and the measures taken by the RBI and the Govt. are working. The coming series may see the lowered crude price impact on the markets and the Govt. policy decisions on the liberalization & disinvestment process.
The banks are increasing their PLR and the interest rates, likely to cost the expansion plans of many industries, the infra structure projects draw money on time to time to meet the demand may see the cost escalation. The Sugar mills take advances against their stocks in the godowns, this will erode their profitability in the coming quartes.

The STOCK-MARKET pulse check by STOCKOMETER: I failed to understand the importance of the series closing as the writing of “Puts and Calls” has much more to say while ending the series. The Relcap, ITC and the GMR Infra stood against the suggestion, though weak but maintained positive for this day.

Never Forget: I may be wrong, You may be wrong but markets always RIGHT.