Yesterday’s move up was a defining one and is likely to be bet dowwn in today’s reaction. Also, infra is likely to be rated down as Election year approaches and India inc battles with inflation. However shorts on larger movers like LIC Housing and IDFC are unlikely to give more than the required minimum in the reaction and remain larger movers on the upside. Also Jp associates as expected followed last week’s DLF into the quagmire of being shortlisted wwithout a salary for the bulls on offer and are unlikely to be further good for more than a 5-10% move down or up. Similarily Bharti , another favorite on the downtrade, has already reached barely 300+ levels and may not move.
However, the loss of control in the Aviation investments being sidled in are a serious issue the market swill discount as Air Asia gets sleepy Tata and Bhatia (mittal in laws) investments and Etihad goes out demanding CEO and COO positions for its investment
Maybe a leg in Pharma before an upmove and that highlights Lupin and Cipla, while OMCs also offer an uptrade and private banks below ING and Indus ind in the pecking order get picked up further on deal buzz (warranted or otherwise) including Karur Vysya Bank, Federal and South Indian Bank all with almost no
available float for takeovers or buying of a NBFC to expand footprint.
Maruti is still not a blue chip for the Indian Market and Hero and Maruti infact make for a big short i would try as they can be kep t open well into next week a day before budget moves take over
- India Morning Report: Burn time..no its still the new year rally (awardz.wordpress.com)
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- Sensex fall nearly 200 points, Nifty below 5900 (profit.ndtv.com)
- LIC sells shares worth Rs 12,600 crore (rediff.com)
- India Morning Report: Markets up but is the end of Banknifty fair? (awardz.wordpress.com)