Greece proposes RBI disposes

Well, what else can I say?

Greece results, though very close, allayed lot of fears around the World. Announcement from New Democratic party that Greece will remain part of Europe was a Masterstroke. We would have done very well and important resistance levels on the charts would have been taken out had RBI not spoiled the mood of the market.

But honestly, not cutting the rates is a good move I would say. Cutting the rates does not impact either inflation or growth in present context. These are affected more today from supply side constraints and policy paralysis respectively. RBI is right in keeping the real interest rates in positive territory (higher than inflation). In any case weaker rupee is better for us as I said earlier. A trader in me would have benefited with a rate cut though. Some other day perhaps.

Update on my hard drive; things are still bleak. Not much sure whether it will be back today.

Bear with the text only posts till then please.