Morning Trading Strategies – India August 10, 2012

The Rupee is trading at 55.60 levels in the morning trade looking to break out but as 56 levels are highly over priced for the Dollar Rupee, it is unlikely to be in a rush, ,making the markets even more rangebound though trades int he currency use the lull to move up, 56.40 being the absolute over the top rate for the Rupee biting traders no end. 

Shorts on GMR INFRA and GVK echoed thru yesterday across SS and the ETNOW specialist ( not Ash Gujral) GVK POWER will be an enticing short, Financially GMRINFRA is ell placed bu tthis could be a purely technical trade. SBIN is at the bottom at 1960 , so the impact of negative results from here would be even more disastrous. YES BANK is probably going below 350 if the markets take a breather, Long only positional traders ould like BIOCON and MARUTI no apart from their soapy MIdcaps. ING is back in the strong list, Indusind still int he seak list. ICICIBANK is being ell left alone by seasoned cricketers and MAXINDIA looks favorably disposed for some good stake builds and as a breather for the markets. the Polaris / Maha Satyam / IIFL kind of trade is still alive and I am going to be readin g the rest of the day wondering why I  did not make the NOBEL short list again! 

 

 

 

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One thought on “Morning Trading Strategies – India August 10, 2012

  1. Pingback: A breather of such length usually means a desperate short that does not work ( Markets open 30 points lower) « A blog of blogs

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