India Morning Report: The Perfect dust up to the perfect storm!

Here we are all happily along for the ride a week before Diwali, markets enjoying a respite with Banknifty smiling all the way on Friday and Pharma and Energy stocks responding to the new rush (having corrected in the profit-taking and decided a new list of winners) and diesel deregulation(which the Center can farm well in Modi’s stewardship as a great policy decision that brought down prices) PSU banks following the upswing of last week for a change at value levels, Bankex thus able to respond in kind on where Banknifty scored on Friday

The market ofcourse has no intention to go past 7950 unless it is to 8500 and the week’s other days would again see more consolidation than one sided trades, unless the predilection to make it a festival show of fireworks again wins in the market minus DLF minus other real estate and now with the bit traders selling on every 100 points till the reform story actually converts into a rush for India Inc and not just more resident funds getting locked up in the markets for years on end.

HDFC Bank and Infosys will have a great slice of fortune for the market ( aDeepavali gift in socio economic parlance)  so are definitely on select investor and speculator lists even as HDFC Bank gets refused on the FII limit in the transient period till it actually merges into a single stock.

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