Large moves in ONGC and Coal india restarted the bull fuelling of the markets, traders assiduously avoiding the to be rally heroes and leaving value on the table in YES Bank, IDFC and other banking applicants while taking the recently hammered value picks in the indices back with defined pairs available to sophisticated and wealth investors and shorts avoiding the markets.
It allowed frustrated “no go” traders like Angel broking who tried a short pick on IDFC yesterday to leave unnoticed while long cash equity futures seem to be a prelude to another rally in the bank nifty. Of course 5800 could still be a level to short the index for the pronouncements of today for coal India and gas prices could still not translate into concrete action in the election year but that looks increasingly remote.
The turnaround is here in process but there is unlikely to be immediate jump in economic data except that future months could see better traction from investors with sticky inflows from the last take on the markets seen in the June expiry above 5700 around 2:30 pm
Gas prices are set to rise in 2014 to market linked levels starting at around $8.4 mmbtu according to the new policy. Bajaj auto has recovered smarty in 2 sharp moves of 2.5% and is still agood nvestment and trade at 1880. iCICI Bank similarily has a good value at 1050 levels
- India Morning Report: Rupee completes its big move (2 days before June NSE FO expiry) (awardz.wordpress.com)
- India Morning Report: Rupee crosses over into 2014 range, Growth cycle pumped up? (awardz.wordpress.com)
- India Morning Report: On your marks, the rally is set to gooooo.. (awardz.wordpress.com)
- India Morning Report: Bank shine again yields to Yes Bank and ICICI Bank, IDFC and quality promoters in (awardz.wordpress.com)
- ONGC, RIL, Oil India rally after gas price hike approval (moneycontrol.com)
- India Morning Report: India needn’t have worried about Fed pronouncements (awardz.wordpress.com)
- Market Trend 27 june 2013 (research4ucoin.wordpress.com)