Late Morning trading strategies India July 20, 2012

The Bank Nifty has started a new move though the bottom right now a stronger than my expected decline of 0.75% and 568 for Kotak spinning out to 10530 for the BankNIfty which is its lowest. Optimism reigns in the market and should be a good point to pick up Kotak (Short targets have been acheived at 564)  and the BANKNIFTY ( I prefer to sell BANKNIFTY PE 10800 ) 

Buying the commoldities market is an illusion, do intraday trades and exit. Should be room for a short on Copper but Gold has come up for air after  along time. Drought condition scares mean firm trends in Agricommodities as well Cotton remains dull and sowing is unlikely to increase for the crop

Crude scares are likely the reason CAIRN will go up, however the prices need not rise above  $107 unless there is absolute panic and this being the last day of the eek , late night Us trading should see the correction back.

As you can see no new strategies here or from the foreingn brokerages or other indian market experts except small picks and piecemeal profits with the markets eyeing a simple 5275 for the close of the week

SBI is a great pick at 2145, INdus ind ready for the jump, YESBANK and IDFC will follo after the index picks up the direction  


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