The Put Call Ratio, never an independent trend saturation indicator per se is nevertheless impeding most new buying in the Indian Markets as a higher PCR indicates the highest levels of puts sold and comparatively a negligible strength of written calls to initiate a downtrend. Given that the banks have recovered the sentiment to 11200 levels though, the unique topped up situation will continue to walk a steady tightrope for the markets at this point because unfortunately traders are sunk for short ideas except for targeting the private banks again even as the perfectly engineered ride up to the market has left value in most rivate banks and in most blue chips.
Bajaj Auto at 1870 is hardly compensated for its Margins of 18.65 and Hero Honda is no longer overvalued. Reliance is again hardly left with any steam on the upside but with investment eigenvalues in India rarified Himalayan peaks, such stories are hard to come by for India and will unlikely get short interest even on their Q2 results day when they report barely coming back to /staying at normal profitability levels ina challenged environment. The INR 44 Bln sales at Bajaj are only bolstered by the new rupee and so also for petroleum cycle bled Reliance as oil starts going up after a barely 6 month breather to importers like India
Manmohan Singh did a great job holding 8 channels to task while inaugurating the ASSOCHAM session today morning, taking of true reform ably effected in energy and the rupee levels helping export volumes 9 again, without discovering that direct relation to be not more than a fond hope anymore) as commodities continue to sink globally except for Oil, led by Indian exports of Cotton and copper also losing value and market like its exports of Tea Coffee and anything else non Gold as the quality is exactly what the buyer did not order, good or bad
Me, I was even thinking it s saturday all morning and the markets are virtually closed..ET’s report on July currency trades this Monday..
The data shows that average daily volumes for currency options have fallen by as much as 79 per cent for one of the exchanges so far in July, but another bourse have witnessed a hefty drop of only 35 per cent.
Meanwhile Raymond and Indian Hotels are not going to be traded derivatives from the Octoebr series
- India Morning Report: India regains investment preference in Asia, builds on 5900 (awardz.wordpress.com)
- India Morning Report: Auto exports pick up at Bajaj, PFC, L&T and IDFC lead plays (awardz.wordpress.com)
- India Morning Report: Chidambaram kicks off mmtc 9.33% divestment (awardz.wordpress.com)
- Indian stocks to watch – July 19 (xe.com)
- Nissan relaunches Datsun brand, to be priced under Rs 4 lakh (thehindu.com)
- India Morning Report: GDP forecasts look for their pound of flesh, india inc reports (This week in Asia on The Banking and Strategy Initiative: advantages.us) (awardz.wordpress.com)
India, China among world”s top spam relaying countries: Sophos (news.in.msn.com)
- Rajiv Bajaj firm on not issuing free shares to Chakan workers (rediff.com)
- India Morning Report: Markets ready for expiry Thursday (awardz.wordpress.com)
- KTM Launches 390 Duke, Bajaj Strike Affects Production (autoevolution.com)