Morning Trading Strategies – India July 26, 2012

Apart from the dead cat bounce today, there is hardly likelty to be any moves in the market today. You should focus on exiting out when Banknifty closes likely above 10300 and BANKNIFTY 10300 PE should be completely in the black if you have sold the same

The Dollar would have hurt as the expiry was again used to declare a dead heat in the worst possible way the dollar going to 56.7 and crashing to below 56 on the open itself minutes ago. However the Rupee strength this time may last a fe days as the new series starts with buying

Oil , copper and Nickel are definitely inviting short trades till 4900, 412 and similar track onNickel

The problem with wishlists will be more obvious in tmarkets this time starting with the sugar stocks, then the auto stock and more. The Banks will continue to be grand prix inners and Heathcare and consumer good picks. 

I am still looking for buying in LICHSGFIN and ORCHID to resume from 236 and 112 respectively and I think ICICI BANK will hit 4 figures and YES BANK cross 400

Lupin, STAR (Stride Arcolabs) and SUNPHARMA remain STRONG BUYS in Pharma/Healthcare

Fixed Income yields are also down in time. 

I had just hoped for the Dollar to start today from 56.3 but it has already whipped off and strained below 56 so trade is unlikely to be facilitated in the currency except for RBI registered exporters and importers, which is sad for the currency trading segment in the NSE or the MCX trading cells. 

 

 

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