India Morning Report: IDFC, Kotak, Bank earnings and a 7800 peak

The week is likely to be good for India equities and debt markets will also be coming back as EM flows continue positive and Turkey and Brazil continue to scare people. IDFC is indeed moving on to 200 levels and HDFC Bank and ICICI Bank are due to report in the week while GAIL, GMR and Sun Pharma catch up with other falling stars at the back of the line. HDFC reports later today.

Power NBFCs will probably not remain subdued for longer in this rally and LIC housing is also available at better levels. TM and TCS do not look too healthy at new prices in the week but the Rupee’s new levels should ensure a better direction for them.

Ideas continued profitability should fox a few analysts too with investor support unlikely to be uniform after its volatility ina few upturns in the market

Glenmark and Cadilla continue up in the Indian pharma players. HUL will probably come back into play under 610 levels ( Mitesh)

Kotak’s key purchase of 20% in MCX is going to keep the stock above 900 levels for some time looking for a move. Axis Bank earnings uplift ahead of key bank earnings, is likely to keep Banknifty above 15800 levels at the close of the week. Earnings surprises at HDFC Bank and ICICI Bank should not move the index much either way.

YES Bank could move out to a new range

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