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rjm77me's Blog : INDIA ADRS DOWN IN DUMPS Is it time to buy

Date

February 7, 2011 Edited: February 7, 2011

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Here is one way to play the deep correction in India,s growth -

Yes risk is there - just add to buy watch and wait for turn around = the Indian market will go up in a hurry when it moves

IFN more like ETF has corrected aprox 305 in 2011 and volume has dried up.

Volume is an indicator when no panic selling is going on.

Please do your own home work.

I did trade in and out of IBN in last 15 days - has not made much money - did not loose any either.

Lot of currency from all around the globe went in the Indian stocks and when US market turned around the money got pulled out from India. Smart money knows when to get back in for seconf=d round of profits

Tags : IBN HDB TTM IFN EPI INDY INDL

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rjm77me

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February 8, 2011 00:09 Abuse this post

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I am more comfortable buying IBN on any weakness and selling March 46 calls for around $1 - meaning potential gain capped at $3 from todays closing price of $43.75 and protects down side to 43.0 (or max reward aprox 6.5% in 39 days) One can set up stop loss and if the stock picks up steam buy an IBN call for additional gain.
Smart money does not mind adding position in an advancing stock or takesmall loss.

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rjm77me

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February 8, 2011 08:44 Abuse this post

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Indian market was down last night - so adding to buy watch is the best for now

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