Morning Trading Strategies – India Sept 03-Sept 07, 2012 Day 2

US markets open after a long weekend and the Euro starts a downward trudge from 1.26 this afternoon to 1.23 or 1.22 levels and tha is very bullish for the Dollar but this time more so for Gold as Oil reduces the money going around, this time by falling from its 120 levels 

Rupee is going to be a strong trade and so any spike is a good chance to accumulate. Daily trades are hardly 10 paisa in range

Banknfty is unlikely going down from here. If it does , buy some for expiry but then wait for the complete Banknifty move. Union, Canara, Central remain sells and the BOB buy reco is not back but PNB has bottomed out and SBI is fed up of the traverse downwards despite unfriendly media noises which the market would not decide to take seriously

Bharti is not a buy, ITC is not a SELL and MARUTI is a SELL not M&M or Bajaj auto

345000 and 445000 (Bajaj and Hero respectively) two wheelers should be counted as a pretty robust performance, above their starting point in 2010 when auto sales ramped up for all the wrong reasons, hope in front of results and economic performance could have taken much more off than what now seems to be just the fat except at MARUTI where 50000 units sold in the month is a precursor of things to come as it continues to lose market share and there is  a surfeit of B launches from Renault, Skoda and others. 

 

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