morning thoughts...
The markets remained subdued last week and is expected to remain volatile in the coming session on back of bad global cues and mishap in europe.
Technically the nifty is likely to trade between 7700 - 7900 with bank nifty showing more strength and is viable for a buy on dips for 17200 levels.
India today imports around 70% of the oil that it consumes. Thus, it goes without saying that in the longer term, India needs to focus on becoming self reliant as far as its energy needs are concerned. But is the country anywhere close to this goal
India will topple China to see the fastest growth in energy demand during this period. The International Energy Agency (IEA) expects India's oil demand to rise by 6 million barrels per day to 9.8 million barrels per day in 2040. Further, it opines that oil production will fall behind demand. Thus, oil import dependence will rise above 90% by 2040. Coal will continue to account for a larger chunk of India's energy mix. Increasing import dependence does not bode well for India in the longer term as there could be constant pressure on the Indian rupee and could have major implications in terms of managing trade balances. It will be interesting to see how the government tackles this particular issue in the coming years.
The strategy remains to buy on dips with more focus on banking stocks and index.
Coming to the commodities markets - bullions , base metals and energy looks ripe for a bounce back in coming session.
Monday wealth gains
Buy nifty - bank nifty
Buy gold , silver , crude , copper , natural gas
Buy icici bank , mphasis bfl , yes bank
Sell cesc , tech mahindra , hexaware
Double bumper buy sbi 250 ca
Buy icici 270 ca , tata motors 400 pa
The markets remained subdued last week and is expected to remain volatile in the coming session on back of bad global cues and mishap in europe.
Technically the nifty is likely to trade between 7700 - 7900 with bank nifty showing more strength and is viable for a buy on dips for 17200 levels.
India today imports around 70% of the oil that it consumes. Thus, it goes without saying that in the longer term, India needs to focus on becoming self reliant as far as its energy needs are concerned. But is the country anywhere close to this goal
India will topple China to see the fastest growth in energy demand during this period. The International Energy Agency (IEA) expects India's oil demand to rise by 6 million barrels per day to 9.8 million barrels per day in 2040. Further, it opines that oil production will fall behind demand. Thus, oil import dependence will rise above 90% by 2040. Coal will continue to account for a larger chunk of India's energy mix. Increasing import dependence does not bode well for India in the longer term as there could be constant pressure on the Indian rupee and could have major implications in terms of managing trade balances. It will be interesting to see how the government tackles this particular issue in the coming years.
The strategy remains to buy on dips with more focus on banking stocks and index.
Coming to the commodities markets - bullions , base metals and energy looks ripe for a bounce back in coming session.
Monday wealth gains
Buy nifty - bank nifty
Buy gold , silver , crude , copper , natural gas
Buy icici bank , mphasis bfl , yes bank
Sell cesc , tech mahindra , hexaware
Double bumper buy sbi 250 ca
Buy icici 270 ca , tata motors 400 pa
