Happy Thursdays! Infosys alone cannot change the trend

Tata Consultancy Services - Ferrari ad at Hyde...

Tata Consultancy Services – Ferrari ad at Hyderabad airport (Photo credit: teemus)

Bears had fun in the markets today poised to take the markets below 17000/5200 tomorrow or day after, but the results from TCS could change all that. The IIP was a nice positive surprise too and it seems not just consumption but some production and some growth in basic and intermediate goods was underwritten too. the Fiscal and Current deficit should also have crawled out of the hole of worry and banks set to take the lead in an Economy which they have nurtured. The growth in Credit for the week is lower only because the ebnd march ramp has to die out anf is still a globally leading indicator of the goods Asia can bring home with 14% growth and a M2 also close to 14%

However, that Infy results were cathartic for the markets cannot be denied, and I am aching to buy some good infra and banking stocks onthe pick up again, esp if I can be a keeper for 6 or more months, this not proving to be but still looking like the bottom we had in the second half of 2009

TCS reports a volume growth of 3% in USD terms and ofcourse double digits in Rupee terms even as the wage increasesaffect the EBITDA. Also MindTree may be back to a buy level at 632, so print the upgrades and lets get going . Of course consolidations, almost discouragingly last at least 4 more sessions and a quicker run up may only trade so llok for a weekend close towards 5200 or at least an intraday dip after we have celebrated TCS and Infy starts back above 2300 tomorrow open if TCS results do fine,

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