Late Morning Trading Strategies: July 12, 2012

IIP for May outperformed expectations at 2.4% up 24 times over last month, mfg up 2.5%, Electricity up 5.5% mining down just -0.9% Durables are up 9.3% again Cap goods are down as per global trends at -8%

Though a lower target from Infosys is INR 1671 and funds could be closing out large positions in the stock, the orst is done and the Rupee also recovered, choosing to react even t o corporate results for the Infy boardroom morning. Infosys CFO does a creditable job of defending lower EBITDA, most autobots would have started accumulating infy on the backbreaking fall. $7.35 B in USD revenues would be a good enough score for Infosys followers ho had priced in industry conditions.

The trouble is the home of the outsourcing industry, India has many temple going followers of the scripts either TCS or Infosys, who cannot understand technical things like clients deferring projects or even as the ET broadcast is blaring in its new Cannes retro campaign “Pyar kiya to Darna kiya”

COALINDIA is a great buy. I would suspect apart from individual buys on IndusInd and YESBANK, the whole BANKNIFTY Index will be a buy at 10650 to at least 10800.

MARUTI , BAJAJAUTO and STRIDE ARCOLABS (STAR) could survive, SBIN could be a great pick. 5250 should be a new bottom, esp if TCS and HDFC BANK follow on expected lines

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s