Morning Trading Strategies – India July 13, 2012

The Rupee has come back in the morning , July Futures opening at 55.73 and likely to go back to 55 as the late surge in commodities and the continuing precipitous drop in the Euro to find new trading levels ( $1.19 target) help fuel the correction Korea and Singapore are faster to completing within Asia. The ringgitt as at the same levels in mid 2011 and has completed its virtuous cycle of outperformance on the currency, the Thai Baht having retraced it to May 2012 levels when Asia started the down ride on the roller coaster 

TCS is going to open at 1300+ and may have another 100 upside left in it, Banks may decide to jump on the bandwagon but one has to pick and choose and wwould start with ICICI Bank for investment and SBI for the trading move. Axis will catch on when some finally decide to exit shorts and treat the entry point with some good check in smiles

INFY is a buy and may hit 2350 soon, and if it catches the broader market will catch faster so wait and watch. All July recommendations till now hold. 



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