Morning Trading Strategies – India July 05, 2012

GMR Malé International Airport Private Limited...
GMR Malé International Airport Private Limited (GMIAL) Office (Photo credit: Ibrahim Asad’s PHotography)

Auto sales being okay for maruti, it has been hidden that Tata motors production is falling off a cliff an dmonthly auto sales from Renault, Ford , GM and VW have not been great either. Toyota alone ploughs through with Honda also contributing to   positive variation since its closure thru 2011. Two heeler sales did well enough but the sector is still ripe to be targeted for correction. Bajaj auto one feels is a good longer term pick at least and one expects a jump during trading in the scrip.

YES Bank and DLF are near the cliff they normally share but ICICI Bank, SBI and HDFC Bank have the potential to move up while Hindalco, Hindustan Zinc and yesterrday’s stars SESA and Stelite will continue to see action. This edition of trading strategies is a trifle early and some of you might even appreciate that but we will be looking closely at the trends in pre open and after market open before taking the choices for the day. IT is bearish but there may be no profits except in HCL Tech on the shorts till the market hits Correction Bell

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