India Morning Report: Markets out of short opportunities at 5350, Rupee actively down to 68.63 at open

ITC starts the day at 305 levels, a good buying levels as the FMCG opportunity tanks.. Markets will be unaffected by shorts like Voltas and Tata Chem (Mitesh Thacker) or even shorting in Titan with buying Idea (SS) even as indices jumped to near 5400 levels at open after a scare from banks not jumping in at 8600 Bifty levels RBI norms on Developer loans from banks on the other hand obviously come as Banks’ lack of opportunities again lead to a ramp up in rel estate loans through 80-20 loans allowing developers to drawdown on bank project facilities before starting construction.

The precipitation for yesterday’s 650 point fall on the Sensex and near 200 points on the Nifty was the missile test by Israel and Obama admitting he is deciding between Congress cooperation (prefered) and otherwise attacking Syria after the Chemical Weapon deployment by Assad Bashar

IDFC and ICICI Bank are slow on the uptick and more worrisome is the Power NBFCs failing to shore up the trends as Powergrid falls thru in double digits in 2 sessions, to 87 this Morning. Bharti is still a buy and Bajaj Auto has started off the day smartly.

REC is floating around 166 levels and PFC and PTC are up barely in a bullish market, probably moving only on a sustained move up from tomorrow. Oil risks to the CAD seem to be contained with India already having reduced its exosure to Iran to less than 15% and unable to increase it.

Jet and ITC may sustain higher levels as domestic aviation price realisations are set to jump in airlines’ and encouragingly Jet would just be following Spicejet. ITC jumped its own retail price ponts in the tobacco business by around 14% per brand variant

Tata Motors rerieve as it counts its chickens from JLR based on last quarter’s EBITDA seems short lived and may be an avoidable investment. Tata Steel however is a good lace to start your post crisis 2013-14 portfolio

3 thoughts on “India Morning Report: Markets out of short opportunities at 5350, Rupee actively down to 68.63 at open

  1. Pingback: India Morning Report: Is 5600 the new 5000? Rupee is holding 65-66 | The India Investment Post (earlier india.advantages.us)

  2. Pingback: India Morning Report: IDFC on way to become a financial conglomerate | The India Investment Post (earlier india.advantages.us)

  3. Pingback: India Morning Report: Nifty treads lightly as shorts disappear (Priced to 6300+ levels ) | The India Investment Post (earlier india.advantages.us)

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