RBI hikes CRR by 50 basis points - Market may not LIKE the MOVE..

The Reserve Bank of India (RBI) has hiked the cash reserve ratio (CRR) by 50 basis points to 8%, joining the government in battling the skyrocketing inflation. The ratio indicates the amount of money banks have to keep with RBI as a percentage of their liabilities (deposits).

The rate hike will be introduced in two stages. In the first stage, RBI will raise CRR by 25 basis points to 7.75% on 26 April 2008. Another 25 basis point hike will come into effect from 10 May 2008.

The unscheduled rate hike comes ahead of RBI's annual credit policy for 2008-09 to be unveiled on 29 April 2008.

As a result of the increase in CRR, about Rs 18,500 crore of' banks resources would be taken out of the system.

The inflation, measured by the wholesale price index (WPI), has shot up to 7.41% in the last week of March 2008 and remained above 7% in the first week of April 2008.

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सेन्सेक्स (16481.20) 237.01 अंक चढ्कर, निफ्टी (4958.40) 71.10 अंक चढ्कर, बंद....

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Our Pri Market call on SAIL is going strong up by 5%, hold for targets,

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Our delivery call of LITL is going strong at Rs465. Traders hold the stock for a revise target of Rs485

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Our target completed in Chambal Fert, recommended Today.

European markets update: FTSE Index up by 0.4%, CAC Index up by 0.6% and DAX Index up by 0.4%

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Buy and Hold Moser Baer for short term delivery for good returns.

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Buy & Hold NDTV for delivery for good returns for short term.

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Trail Stop Loss in Buy & hold Omaxe to cost and trade safe

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Buy TTML at Rs30.70 with SL of Rs27.50 and tgt of Rs36-37 in 2-Days

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Inflation for the week ended April 5 was at 7.14%, against expectation of 7.21%

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Pre Market Ideas !!

Buy SAIL

Buy Chambal Fertilizers

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Nifty: 4887 Sup: 4820 Res: 4970

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Pre Market Intraday Calls !!

Buy Chambal Fert

Buy Nicholas Piramal

Buy GMR Infra

Sell JP Asso

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Our target completed in Glenmark, BOOK PROFIT

European markets are trading higher with FTSE Index up by 0.5%, DAX Index up by 0.8% and CAC Index up by 0.7%

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Our Buy & hold call of Glenmark is going strong at Rs559, close to target

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Power Finance Q4 net profit at Rs2.97bn (down 19%), net sales at Rs13.65bn (up 20.5%)

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Buy and Hold Omaxe for delivery for good returns 2-3 days

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China GDP (Q1): Released Today,

China GDP (Q1):
Actual 10.6, Expected 10.0, Prior 11.2
More than expected.
Industrial output also rose.
Positive for base metals)

Our target completed in LITL, given yesterday. Traders stay long for a revise target of Rs452

Our message given yesterday to PAID CLIENT was ::

Buy LITL at Rs414 with
SL of Rs406 and
Target of Rs433,438
in 1- 2 days

Buy & hold Glenmark for short term delivery for good returns.

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Neyveli Lignite is up by over 3% to Rs137

Neyveli Lignite is up by over 3% to Rs137,
Trail SL to cost on our long cal initiated
at Rs130 levels.

RNRL is up by over 5% to Rs112, Recommended Today. hold for target.

Our Message was :

RNRL is up by over 5% to Rs112,
Recommended Today in Pri Market Idea
Hold fo Target price of Rs120

Nicolas Piramal is up by 4% to Rs334, recommended Today,

Our Pri Market Intraday Message to Paid client was ::

Buy Nicholas Piramal (320)
SL 315 Target 331, 335

Our Buy & hold call of LITL, recommended yesterday is up by 4% to Rs424

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Corporate action - Results...

16-Apr Indiabulls Financial Result
16-Apr Power Finance Result
16-Apr Reliance Petroleum Result
16-Apr Pyramid Saimira Result
16-Apr NDTV Result
16-Apr TCS Result
16-Apr Petronet LNG Result
17-Apr CMC Result
17-Apr FAG Bearings Result
18-Apr GTL Infrastructure Result
18-Apr Greaves Cotton Result
18-Apr Ambuja Cements Result
18-Apr Genus Power Infra Result
17-Apr Rolta India Result
18-Apr Wipro Result

Nifty 4880. Sup 4820. Res 4960

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Pre-Market Commentry !!

Today, we expect a spillover of healthy cues from the global markets on Indian bourses at least for the better part of the day. US markets closed higher after Intel Corp’s Q1 profit met analysts' estimates. Markets have been on a rise, ignoring record-high inflation, rising crude oil prices and low trading volumes. So, one need to be cautious, because every rally has been followed by a sell-off in the recent months and any negative surprises on the earnings front or disclosure of derivative losses could result into paring of these gains. We advice investors to be wary at higher levels and not carry trading positions to next week.

Pre Market Intraday Calls !!

Buy Voltas

Buy RNRL

Buy RCom

Buy Nicholas Piramal

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Buy Reliance Communication

Buy Nicolas Piramal

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सेन्सेक्स (16153.66) 346.02 अंक चढ्कर, निफ्टी (4879.65) 101.85 अंक चढ्कर, बंद....

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European markets are trading flat, except FTSE Index

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Our second target completed in SELL NIFTY FUT, book profit in Intraday call at 4870.

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Intraday Call :Sell Nifty April above 4910
with SL 4945 and target of Rs4890,4870.

Our second target completed in buy & hold call of Essar Oil, given on Friday

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Our 1st target achived in SELL NIFTY APRIL, hold for secound target.

Message Given to PAID CLIENTS ::

Intraday Call :Sell Nifty April above 4910
with SL 4945 and target of Rs4890,4870.

Buy LITL at Rs414 with SL of Rs406 and target of Rs433, 438 in 1- 2 days

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Our first target completed in buy & hold call of Essar Oil, given on Friday

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Buy & hold Punj Lloyd at Rs338 with SL of Rs330 and target of Rs355, 357

INFOSYS Result :: Net profit after tax & exceptional items at Rs 44.70bn for the year ended March 31, 2008 as compared to Rs37.83bn for year ended Mar

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Asian Market trading this Morning ...

The global cues have nothing much to cheer about. Most Asian indices are negative. Despite better-than-expected March retail sales report, US indices ended lower following Wachovia's earnings and the outlook for corporate profits. The Dow Jones lost 0.2%. The broader Standard & Poor's 500 lost 0.3% and the Nasdaq composite lost 0.6%.

Pre Market Ideas !!

Buy RPL

Sell National Aluminium (NALCO)

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Nifty (4778) Sup 4650 Res 4840

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Pre Market Intraday Calls !!

Buy RPL

Buy Cairn

Sell Nalco

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Pre-Market Commentry !!

Today,With global markets correcting in the last two trading sessions on poor
earnings announcement by GE, the only hope for Indian equities is better than expected results from Infosys, which seems unlikely. Largely, the market is expected to be volatile with a downward bias.