Pre Closing Trading Strategies – And We Said The Rally Maybe Could Not Hold Off Friday

 

As suspected/expected depending on your lingua franca and the youth in your team, Markets survived 5500 so well that they could not keep their hands off a big rally into the weekend, ending Friday with a likely 150 point  gain on the Nifty and a 400 point gain on the BankNifty. AxisBank is finally1120 and so Monday opening will unlikely see a straight line improvement from 5700 levels exp the Bank nifty ripe for a few points of bargaining.

As commentators hae mentioned and has been obvious in the last few days, buying has in fact become more frenzied as institutions realise India will be the last minute pronounced outperformer int he region despite the bad news economics continuing not even till the bottom in April but as recently asa week back when the IIP dat came out at 0.1% aand prompted another string of Growth GDP forecast downgrades to 5.5%

Most of these commentators have a bad eye or shall we say long lost cousins that seem to find their favor in the amrket rally as the obvious ones defy commentary. However the Banks and Infracos remain the sectors to invest in and again a Hobson’s choice for institutions still waiting for the elusive dip. Also healthcare could indeed come back as the second leg of the rally given that Infracos were almost simultaneous in their move with banks. I am an investor in RELINFRA so that is one stock I can eagerly mention as a bull weather friend.  JETAIRWAYS IS ripe for those not locked in and roving eyes might still catch these and heath scrips like SUN at new levels for a big run. ITC would be a dream pick but more accumulation is likely as the market tries to find time for mid cap consumer companies probably even VIPIND

 

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