India Morning Report: The battle of the minions is done?

The markets seem rested and able at 7500, the banks ready to take the fight here but 7500 also seems an able mark for consolidation with government actions deciding most marks (Ridham Desai /MS ETNow, nice touch)  Maruti and HCL probably aid in the dip in Infy to the unexpected 2700 levels after coming under 3000 on yesterday’s news ( exit scores added up to a more than dozen mark this month) even as the buzz gets ahead on Nilekani reentry on the positive end.

The new Motor Vehicles Act and the relaunch of Infrastructure projects including revival of city metro projects(F E 6/6) . The market top has moved higher to 7700. Media stories like News X seem to be back in the game in the unlisted business as the poorly funded listed business gets into the trenches and Reliance gets a handle on the new buy at TV18 ( CNBC/IBN )

It would be interesting to watch how DIIs cascade buy lists from Pharma and Banks and reentry into Energy and IT. Apparently SBI has not moved in the last three weeks now for some coming “assymetric whirls” for the market oldies

IDFC and Yes lead my fundamental buys to a target of 150 and 600-630 levels in this market range till December, Power NBFCs set up the trade again with REC at 300 levels and LIC Housing is probably still on institutional buys

The planned LTROs in ECB policy announcement yesterday are unlikely to reach anywhere near the minimal objectives of the Bank to infuse /rejuvenate credit in Europe and the Euro is already looking to new data on the planned late Easing by ECB in 2015 making Indian currency moves a nice cozy unlikely to hold at 58 lows .

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