India Morning Report: Another Day, another buying bout

Equities continue strong despite an overnight cut in the Dow as Asia follows in its wake ahead of China data towards the end of the week. HDFC and HDFC Bank are good for a long trade and more accumulation at these prices. Kotak and LIC housing also followed up in buying after impressive results last week from Kotak and YES reports with ICICI Bank tomorrow holding new levels before a likely positive surprise.

IDFC is the best poised for a breakout with the Pharma companies probably quieting down (Glenmark and Cadila) after the recent comeback trade.

Bajaj Auto and CESC might see better sentiment ahead of month end data as a better IIP data indicates production strength on the back of returning consumption growth.

Even if sales follow up on auto sales last month due trades will take Bajaj Auto to 2250 levels.

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