As markets regain 7550 after missing expiry at 7500 the bullish moves expected in banks might well come to pass. In the mean time the new dispensation has mobilised its hoary yawp to show its concern for Food Security, and the requirement to implement it may pass on to states, with Modi asking for a rest at the end of month 1 and inflation targetted finally by the Fiscal controlleg of the government rather than further requests for the Central Bank RBI to implement more measures.
If you need to refresh buy lists do refer to out morning reports of this week. The new series again starts an attempt first to regain the 7550 mark for index options and one assumes this time there would be no positions below 7500 ar 7450 at bext as the markets have been consolidating near 7500-7550 all June. Upward targets depend on continuing buying as even at the head of a big rally FDI and FII inflows for the year were muted at best , investment rankings for India at 13 within Asia and April 2014 ticking down for $10 blln in the first four months of 2014. FDI for FY ended March 2014 was just $24 Bln.
Divis Labs has completed an agreement to supply Ranbaxy API for its Diovan generic and Sun Pharma is also importantly relieved on the news. After Divis Labs, Glenmark and Stride Arcolabs may again see fresh investments through the month. However a recovery in currency and Fixed income markets means banks will lead the way up in this month again and earnings follow in two weeks. Reliance seems to have added back on the shortlists this onth after energy moves ignored the private player in the Iraq fracas.