Morning Trading Strategies – India July 24, 2012

Buy ZEE ENTERTAINMENT and AXISBANK ICICIBANK ould be a bigger bang and SBI also works if you are willing to hold

Monday’s global open could at least set a stage for a backdraft till 5160-70 for the expiry late in the weak to be at reasonable levels after having failed to stick to 5350. Policy situation has turned around and more expectations have been calendarised apparently 

Coal India fast tracking has been denied and is likely to reced to 351 at most. Powergrida nd REC continue to be strong into the new series. IDEA seems fairly priced though it enjoyed great results

INGVysya will report profit growth but i do not think any thing exceptional was required from the bank in earnings report this quarter so it should work for  apop instead of a sell on news

Tata Global reported a growth in margins above the 30% watermark at 56% to 156Cros after finance costs but even excl extraordinary items, the net proftis were almost steady at INR77 crores from INR72 crores Net Sales were up 20% No trades on result scrips even otherwise

However we do not see a bull trade in Dr Reddy either as SS seems to suggest, so the upside on the Nifty avoiding the banks is highly unlikely today.



Comments are closed.

Up ↑

%d bloggers like this: