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Intraday Tips For 27 July 2011

My Dear visitor’s, the Indian equity benchmarks got shattered after R.B.I. announced more than expected hike in key rates and maintained a hawkish tone. The sentiment was further dampened as immediate reaction of banks hinted at increasing base rates, which will hike interest cost for corporates, as well as individuals. For your information, the R.B.I increased Repo and reverse Repo Rates by 50 BPS respectively. Since March 2010, This is  the 11th time, the Central Bank has hiked rates to arrest the rising inflation. the R.B.I’s hawkish tone also signaled that rate tightening is not over yet as it said that they would continue with anti-inflationary stance. Above decision of R.B.I will definitely impact the capex cycle which is already been slow. But this will actually prevent the growth more so in fy 2013 but not as much as in the current fiscal year. So this will have some medium term impact. So, the conclusion is market will remain range bound for the mid term period and we have to trade accordingly.

Intraday Stock Tips For 27 July 2011

1. UFLEX (UFLEX Ltd.) :- Buy at 215.50, Strict SL at 213.20, Intraday Target 217.65-219 Strong Resistance-220.50-222-224 Short term expected 300+.

2. AMRUTANJA (Amrutanjan Health Care Ltd.) :– Buy at 940.35, Strict SL at 921.75, Intraday Target 950-957 Strong resistance -960-970.

3. MINDTREE (MindTree Ltd. ) :– Buy at 414.25, Strict SL at 403.10, Intraday Target 417-425 Strong Resistance -429-440.

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Intraday Tips Updated at: 1:44 AM
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