Long time, no see dear readers! I hope life and markets have been treating you well, exactly in that order of preference. With Johnny Cash playing in the background, Jack Daniels in my hand and the Mrs. away visiting the dear in-laws, I just remembered that I have a blog to get to. Here are some Indian stocks I like for the medium term. Before I mention them, I must repeat (I have said this before here somewhere) that my approach to the Indian markets is very different to that to the American markets. While with the American markets, I am strictly a momentum trader, with the Indian markets, I am more of a position trader, adding slowly and steadily on dips and consolidation periods and holding for longer time frames. Gotta love the 0% tax rates on long term capital gains!
TATA COFFEE
Above is the 3 year weekly chart of Tata Coffee. The big spike that you see in 2011 is when the news related to supplying Starbucks came out. Its been over 2 years of consolidation since then. Well, its having a crack at the 1000 level once again. Gotta love its chances after the long, strong period of consolidation.
CASTROL
Love the volume pattern of the last two months. High volume break of 600 level followed by a period of consolidation. Would love to see it consolidate some more. Due date for 1:1 bonus share allotment is expected anytime now.
The real reason why I like the stock is the three year weekly chart above. Again, would love a couple more weeks of consolidation before it takes another crack at the important 600 level.
APOLLO TYRES
Again, needs some consolidation before it takes out the 95 level and heads to multi-year highs. Like it on dips here before it takes on 95.
Will be back with a watchlist of stocks from the US stock market sometime this weekend.
OK, The long black veil just came on. Time for a refill. Take care and good luck!
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