Money Tree

The US and Asian markets are showing flat to positive cues and yesterday we witnessed some profit booking as indicated on our site yesterday morning. There is pressure on the IT companies due to rupee appreciation which has undone the good news of strong quarterely results of Infosys and TCS and the sector has started moving sideways. Steel is looking strong as we see some regained strength in the steel commodity worldwide, some stocks to watch would be Tata Steel, JSW and SAIL.