The markets are ready for a big bounce in August starting immediately after expiry. Banks are especially ready for a jump . However for that dangerous last double dip that may take indices to 5050 before the rise begins I only suggest cash equities and a small ait for options premiums on the indices to correct. Cash purchases are important or it mauy not work for the indices. The morning sugeestions hold for a buy. SBI and Axis and HDFCBank are all good candidates for a correctionand a jump thus making it a razor’s edge to start.
Reliance infra has bottoms out at near 480, IDFC is good for big pickings and JP Associates as well when the uptrend starts for the bigger rally from after expiry.
ING and INDUSIND will come in late on Day 3 of any rally. An earlier start may be possible for beaten down PSU banks though i am not game for Canara Bank or even the well performing Karnataka Bank, action returing to PNB BOB and the big ones
the ITC beat and the YESBANK beat to new targets near 300 and 400 are likely to be the new kings of a rally at this point even as Jubilant pushes in results into a nook ith perfectly ok growth but having browbeaten market expectations with the upward hilt.