India Morning Report July 22, 2012: Don’t go shorting the banks yet!

Well, I am more stuck than sitting on the fence say star analysts with TV18 and ETNOW as there are intraday picks out for shorting the banks one shorting HDFCBANK and the other shorting KOTAK

They somehow know we are long on the BANKNIFTY still looking at 10500. It seems to be the speculators turn (of the stomach, not the next to go in a monopoly board game) to say the big money has been missing in trade for too long a time and there is nothing to take it up. Wonder who else was left buying the banks here? There really isn’t any other goth story in this market and when the banks are ready to go higher the market will go forward, so the shorts on HDFCBANK may not yield much i’d say. 

The street did not get too much fun on the eekend and the news flow as drier than always with the Presidential elections relegated on the ticker for “radio silence” to honor the big office and Noisy weekend barbell holding hub points of your informal networks ready for a philosophical turn after managements were targeted globally and people tried to enjoy some perverse satisfaction in China failing to keep any growth coming despite the 7.6% GDP growth with the 2000 store Strong McDonalds unlikely to grow same store sales in that country. India of course never wanted so many McDonalds’ or did it!

Indonesia in a “not so unlikely” story line from Stanchart is likely to be added to the BRICS to make BRIICS by 2015 and Indian money is still desired in Africa. The Tata Power/Adani Power UMPP wants to move PPAs to a almost 80% higher per unit price and even that can reach consumers under Rs 4.50 which is well affordable so why the problem exactly in that chain from  manufacturing to distribution to payment of electricity

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