Pre Closing Trading Strategies- November 15, 2012

Diwali is over. The uptick is not over. No one is in any hurry to buy though. Esp those sympathisers of the Banknifty/PSU Banks are flat/in deep trouble. Bank recapitalisation on Tuesday is likely to be a non news making show as far as the market traders are concerned. It is mostly aboout sending good money after bad money being somebody else’s problem, including recapitalisation for IDBI Bank hich unfortunately has quite a future but has belied it by not growing to size. Such examples unfortunately do not abound and the PSE space is more sick than the nanny who stayed with the kids despite the jaundice or Pujara’s test career ( he is playing pretty nicely at Motera though)

ICICI Bank and Axis Bank corrections are inevitable till the markets do a more than 50 points on the upside.  YES Bank has no investors moving out but the range is capped and it is no longer the trader’s yum treat in the upmove, more for the second wind after India Inc is actually in the stride       ( that can be a slate as near end 2014.) 

Healthcare and ITC/Bharti are the big picks though Bharti’s rise in the morning for the 2G auction stand seems more a misunderstanding as Bharti would probably want much more spectrum in time mand it still may not come as cheap as 2001. though one wonders why the whole round trip on the Scam is still held out as valid by some of our young turks. The secretaries even then assessed and realised charging more would make the state coffers bankrupt and that is what happened after the CAG’s involvement and the Soupreme Court judgment, except for we know more about Barka Dutt and some PR agents

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