Late Morning Trading Strategies: India July 10, 2012

Stay away from USL, exit , stay away from UB holdings too, Stay away from Cement and Sugar stocks unless you know enoiugh to short with sharp intra day targets, Mannapuram Finance a good buy really good for the big jump in Banks and NBFC Financials,

The Dabur buy is going to flunk but BFUTILITIES and IDFC are still hot. So is coal india and JAICORP. No ne picks are req uired in your portfolio at this time. Jubilant foods ill corner mos to f the discretionary/nondiscretionary jump in this quarter Lovanble remains hot, Yes Bank has more. UCIO and UNION Bank not good for your nor BANK of Baroda

Infosys may bottom out at 2410, ITC at 247 LIC Housing as we said is holding 264 and now at 266 ready for another upmove DLF tops out at 222 ONGC looks good for another 10% in cash, Reliance Anil Ambani stocks ill be moving in this week Artel and Idea making a comeback? I am a little sceptical at thiese levels and that could be the important reason we cannot move beyond 5300-5320 Shorts come back Friday afternoon if nothing happens. – The last one is only a working assumption

One sell target on ITC till 236 is out, it might still stick to 247 if an upmove happens. SKS Micro has started moving up in bagsAXIS BANK is ready and would be the likely solo trigger of the big UP move. The market does not seem to want to test below 5250 and most long position sare thus stuck at 5300 ithout a move as the RISK off envelops the highs as well

 

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