Market Mantra
Southern Onlie Bio Tech hits the BUYER FREEZE before cooling down. One should accumulating from here. CMP; Rs.4.55.
Buy J P Associates at Rs.86--86.20, T--Rs.91, SL--Rs.85. Following RBI Policy one shoud buy all the rate sensitives. Subbarao has cut the repo rate, the rate at which RBI lends to banks by 25 basis points to 7.75% as markets expected. A bonus 25 basis points cut in cash reserve ratio cut at 4% that will release Rs 18,000 crores into the system. A basis point is 0.01 percentage point. Gross Domestic Product growth for the fiscal has been reduced to 5.5%, from 5.8%. Inflation as measured by the Wholesale Price Index may fall to 6.8%, from earlier forecast 7.5%. 
