Late Late Morning Trading Strategies – India July 06, 2012

A deceptively dull morning in the exchanges as the short interest is still lost. Speculative anti bids on the banks that led the rally very carefully  (as scrips) may not be good shorts for the day as next week is likely to be stronger for India again. Positive interest has won this rally and the intraday tussle yet. 

My piicks for the longs are new bulls MAX India and YES Bank ideally for 250 and 400 targetrs, operators pickin git up may start with intra day wins. More than a few quick and dirty stop losses were triggered in Buy calls on Yes Bank today as markets continue to second guess wrongly on individual scrips also. Do not sell ICICI Bank and HDFC Bank holding now. There is a real risk of never recovbering these levels before Axis Bank travels to 1215 levels and comes back to 1050 from there.

BPCL has good speculative interst but may not see any more action on Friday. Markets trading at 5298 levels do not have much more downside left bu tthe bulls will wait for 3 pm as they do not want to deny anyone the chance for markets to correct as others may try. 

 

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