Morning Trading Strategies – India June 22, 2012

I am holding my Nifty 5000p short and 5100c short positions right no as the markets hold the correction thought and mull moves. Carrying moves to monday would be dangerous and should be carefully considered especially if you have “not been part of the shortcovering crowd” Nifty PCR is at all time highs of 1.45

I for one leave Sterlite, SESA well alone, HINDALCO has been a buy so you could play for a little correctionand exit within INR 2. Selling It could be a nice intra day theme but as it has no basis hatsoever execept the correction in Rupee, Mid Cap IT leaders esp MindTree are unlikely to give way for better buying levels

Dow was down 250 points yesterday and Shanghai 1.40% down in the morning as Dollar is weak but commodities are weaker right now, Oil below $90. larry Ellison is buying a island in Hawaii but otherwise it would seem that Friday will see only small buying at ne levels as investors put in their applications for membership on the long haul with the India story, having just come out of Waterworld

No do not buy intra day bank picks but yes I still have a ICICI 900 call somewhere I bought last week

 

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