Now on what ground do the ruling UPA, expect VOTES from the stock market participants and their families? DMK has done the right thing, though on a different but an important issue. These people are busy making money for themselves only, they are least bothered about the country and its people. There is a Rogue RBI, which has a clerk in the form of governor, who neither has any vision nor any mission. When the whole Indian economy is going down, he is busy, looking at the dead Inflation numbers to take future decisions. Why are tax payers money wasted on such inefficient institutions, I have no idea. Also, this country is having a DEAF and DUMB Prime Minister since the last 8-9 years. Shame upon our Polity. Let them all resign now and go for fresh elections. This government has gone for a toss and people have lost confidence on them. Indians should vote EN MASS to defeat these JOKERS, who are governing us]
RBI has reduced the Repo rates but at the same time the PSU banks have not lowered the PLRs, as they say, the demand for the loans has started to pick up once again. This is positive for all the PSU Bank stocks and I am specially bullish on Central Bank (CMP: Rs.69), United Bank of India (Rs.57) and SBI (Rs.21.42)--go full hog on the banking counters.
There are some positive news coming in IVRCL Ltd regarding its projects. The company has a massive order book of Rs.22, 000 Crore, Repo rate cut by the RBI is positive for all the infrastructure companies. Hence buy the stock at the CMP of Rs.20.30.
Yesterday's buy call on Nifty_Futures at 5720, reached the target of 5760 today and in fact the Nifty_Futures touched 5772 intra-day. With positive cues coming from the UPA government and also from both the US, China and EU, and also March is coming to and end, I think for the moment the days of BEARS are OVER. We can look forward for the Nifty levels of 5790--5820, in the coming days.BULLS can now slowly start to accumulate good beaten down scrips.