Anagram's Daily Calls

Anagram's Daily Call:17/07/2008

VIEW POINT: CRUDE SLIDE MAY HELP

Things are getting decidedly better for the equity bulls in the US who were getting a meadow to themselves to graze as the bears have been fenced (ban on short selling) . Another sharp fall in Crude has further helped matters, allowing the markets to ignore the inflation numbers. Here in India, to take the sting out of the inflation numbers, we will see the inflation numbers being pre-poned to Thursday evening after the markets close.

It's a pity that Crude is falling at a time, when the Indian markets are shrouded in a mist of uncertainty on account of the trust vote. So, our markets cannot really respond to this in the same enthusiasm as the western markets do. While we could see an early morning bounce back, whether we build on that is going to be a function of how much short covering the refineries and real estate see.

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