Tuesday, April 20, 2010

Stop : 5-Day losing streak

US Markets took a U-turn in the afternoon session after sliding in the first half. Tomorrow is another critical day on wall street as Goldie
declares its numbers. It has been a concept of "selling on news" or discount theory at play on the wall street. Despite of better earnings from
IBM, Citigroup stocks seem to have discounted the same.

Back to domestic markets TCS posted impressive quarterly numbers though revenue growth is not exciting enough. RBI is likely to deliver the much
expected rate hike today. A 50 basis point cut is expected broadly and atleast for a day or two D-Street might try to recover part of the loses incurred
in the last 5 sessions.

As mentioned many times stay away from second rung stocks like HOVS etc which are purely controlled by operators. Realestate, banks are the two major sectors
for the day today. Auto might get the stick.

Stock to watch : Indowind Energy, DS Kulkarni, Gokul Refoils