Inflation Cooling..
Inflation for the week ended October 18 came in at 10.68% as against 11.07% week-on-week.moves by the Reserve Bank of India and the government have helped inflation numbers to come down. Moreover, he said that cooling off of global commodity prices has also helped.Going forward from here, there could be a case for a further repo rate cut and we are factoring in a possibility of another 100 bps by March.
Rate cuts across world pushed markets upward..
Stocks rallied worldwide and U.S. index futures climbed as central banks from Washington to Hong Kong cut interest rates and the Federal Reserve provided $120 billion to South Korea, Singapore, Brazil and Mexico to unlock lending in emerging markets.
US futures seen up 3 - 4 % and European Markets opened sharply upwards with 3-4 % gain and trading strongly.
Cues for Indian Market
Though Bounce is expected on next session, still I believe , at certain time, profit booking is going to pull markets down again.We are not yet done. It is just begining phase of recession and worst is yet to come.Though lot of supportive measures has been taken across the world to support falling market, it is going to take time to see it's results and markets to consolidate at this level.
So my sincere advice will be wait for a moment..dont start buying when you see up moves... but wait for down falls.
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