Inflation fall to 7year low & Market above 8500:-
Today’s Highlights
Market above 8500
- In line with global markets Indian markets rallied today. This rally was further fuelled by short covering.
- Nifty rallied for more than 100 points and sensex breached important resistance level of 8500.
- This was the biggest single day gain for market in 2009.
- We expect Indian markets to rally further. Sensex is likely to test 9500 and Nifty 2850 levels after which profit booking may start into the market.
Inflation fall to 7year low:-
- Inflation numbers for week ended February 28 fell to 2.43%.
- Annual inflation was 6.21% during the corresponding week last year.
- These numbers are lowest since february 2002.
- These inflation nos. are prepared on a data of only 20% and remaining data is yet to come in.
- Because of this there could be major revisions in these inflation nos.
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