India Morning Report August 16, 2012: Ahh! that upward climb is coming!

It is almost akin to a pilgrimage to Kailasa or Mata Devi the way markets are treating Mt 5400 and then Mt 5600 but it is only fair that the markets have virtually wiped all possible reasons for selling into this rally from the technical structure of the markets. The robustness will stand analysts in good stead as they branch into the usual suspects from Adani Ent and JSW holdings to Ranbaxy at this stage, Of course at every stage there is value in some selected blue chips and they may be referred by sundries as suspect but to those regularly following, it will be clear that these scripscurrently picked in Trader 6 are not here for the long run.

Sun Pharma, Glenmark, even Jet Airways and Spicejet, with IDFC and ICICI Bank leading from the front is a likely tale for those forced out oftrading cues earlier at 5200 to 5400 by the lack of moves esp as Futuresinterest continues on the wane. 


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