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What a way to exist!

For most of us, practically the whole day all we are thinking is about money and more specifically how to have more money!

As if money was the only thing in life. Unfortunately for most of us, circumstances just do not permit any other thought!

We are running behind money most of the time which is almost akin to have become obsessed with money. Everything that we are doing in life is centred around money.

Unfortunately, this is because we need money for anything and everything that we do. There’s nothing wrong and what are you doing, however the problem is that over time, it becomes a compulsive habit to keep earning more.

That’s where the danger is. The problem is that there is a point where from we chase money as an addiction, we chase money because we like to do so. If we did not chase money we would not know what to chase now because we get out identity from money and the amount of money we have.

Another thing is that right from childhood we are always taught and our minds are conditioned that everything that we are doing is going to be for the sake of earning money.

There is no one who told you that money is just a means, and then there is something greater in life to achieve. Some examples are legacy; building something, charity; to giving something / helping someone, passion; pursuing something and living; simply to enjoy life and your money

We have got addicted to this and how!

There are three reasons for this:

First, we are what we do. It is the human behaviour. I know I should exercise and I don’t. I know I should eat healthy and I don’t. I know I should spend time with my kids and I don’t. I know that, yes, money isn’t going to make me happy and I still keep trying to make money.

We live by the laws of inertia, in a pattern which is hard to break. But we have to break it. For ourselves and for the sake of people and reasons for which we are chasing money.

Secondly, we need signals of progress. Money is a measure of how far you have progressed in life. The more the money you have the more you can make sure your progress. It’s simply the logic of evolution. People need validation of their success. Bigger house, bigger car, branded goods and list goes on.

Thirdly, it’s the easy way out. It’s only human to avoid difficult things. Important things are very difficult to measure.  Have I been a good father or husband? Have I groomed my child well?  Such things take years to measure and we still don’t have answers.

So, should we not be focused on creating money for ourselves?

I’m not saying that. Definitely create. Take care of yourself for sure!! Use it to the maximum to make yourself happy!!! You need a certain amount and beyond that is extra.

The definition of their certain amount is naturally different from one person to another. If that extra is going to happen easily, without stress and without your involvement, then its fine. Basically don’t kill yourself for that extra. Be Smart.

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a certified financial planner, wealth manager and financial freedom coach.

How the RBI actually helps you

Most of us in Mumbai, see this huge structure called the Reserve Bank of India and wonder what it really does. It’s also a tourist attraction!! It has so many other offices and again one wonders why they need to have so many offices. I’m going to try and highlight a very interesting part of RBI’s work and how it helps us directly on a day-to-day basis.

The RBI does a review of the monetary policy of the country at frequent intervals during the year. So how does the monetary policy help us investors to take smart decisions?

Monetary policy is a tool by which the RBI decides to raise interest rates or reduce interest rates or keep them steady.

In our country, as we’re an oil importing nation, this decision is very closely linked to Oil. Oil to a large extent contributes to inflation. We all know what happens when inflation keeps rising. We in India unfortunately do not see too much of inflation falling and things becoming cheaper.

Oil is Not Well

So when oil prices rise i.e. we see a rise in crude oil prices almost instantly we can expect rising food prices. This is because there is going to be a rising cost pressure for manufacturing & services. This rise obviously gets passed onto the retail consumers.

When this happens RBI adopts a hawkish stance, tries to pull money out of the system by raising interest rates. Now when interest rates rise no one seems to be interested in borrowing. This immediately puts a brakes on money circulation.  Less money chasing goods decreases the demand for money. This way it controls inflation.

There is yet another tool that the RBI has and that is known as the CRR or the cash reserve ratio.  This ratio in simple words means the amount of cash that the bank must maintain with the RBI as the percentage of the total assets. So when this increases banks are forced to park more with the RBI and this is also a way to control inflation.

On the other hand when things look dull, when there is a recession of sorts, the RBI comes to the rescue and gets into action to kickstart growth in the country. It does this by lowering the interest rates. This we all will understand quite easily because we see a direct benefit of this happening. We see a fall of interest outgo in our EMI’s for the home loan that we are carrying. New loans become cheaper.

Individuals are motivated to go out and make purchases, whether it is for a washing machine or a piece of real estate. Businesses are motivated to go out and borrow to buy more machinery, to expand capacity, to hire more staff and manpower and basically do everything that will add to the growth of business.

Economic growth results as a result of all this. It is also during this time that stock market rises, we see a rally in stock prices and mutual fund NAV’s jumping higher and higher each day. There is prosperity all around.

Critical Role

As you can see that the central bank of the country has a very very important role to play.  If it makes a mistake, things can go really wrong.  Imagine like the USA or Japan if our interest rates were very low; everyone would run to borrow, they would borrow more than they require because it would be cheap and easy to borrow. And that is very individuals would run into what is known as the debt trap, because someday you’ll have to pay back.

Each day the central bank attempts to make sure that everything in our country remains stable and financially there’s nothing that goes wrong dramatically.

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a Certified Financial Planner, Wealth Manager & Financial Freedom Coach.

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We are not talking of James Bond, we are talking of investment bonds.

We are in a situation where the fixed deposit rates are at a general low and there is a lot of discontent among depositors of fixed deposits.

Whenever we see a situation like this, one way or the other, the bond markets come to the rescue. It comes to the rescue of smart depositors, who are agile to move their money from fixed deposits to bond funds.

Let’s understand what is happening and why.

What Exactly is Happening in the Bond Markets?

It is likely that in this year, investors of bond funds will make handsome gains. Bond prices may rise and there may be capital gains. Investors of bond funds not only earn the rate of interest, but also earn capital gains. So that way, they make more than the return they would make on fixed deposits. The returns could be a high single digit or sometimes as high as double digits.

Over three years, this will become practically tax free or the tax would be a very small amount. So, basically, I am thinking that a rally will happen in the bond market. There are three main reasons for this — reduction in government borrowing (which is favourable), recovery of trading losses (which is favourable) and no change in monetary policy (which is neutral).

A word of caution, however, that such bond market investments are also subject to bond-market volatility and should be considered ideally with the help of a financial expert.

Before proceeding further, let us, therefore, quickly explain a bond, bond fund and bond market. We need to do this because few people understand the bond markets and even fewer invest in the bond markets.

Bond is nothing, but a commercial transaction where the borrower is issuing a bond to the lender and the lender will earn a certain rate of interest. When interest rates fall, everyone becomes interested in owning that bond.

As a result, the demand for the bond increases, the price of the bond increases and the bondholder makes capital gains.

A bond fund is a fund where ordinary investors pool in their money and a fund manager buys them a portfolio of bonds.

Moving onto the Reasons For a Rally in Bond Funds…

Now, the fundamental reason for a rally is reduction in interest rates as it stimulates economy and growth.

Firstly, the government is a massive borrower of funds. So a reduction in government borrowing reduces the demand for money in the economy. As a result, prices of bonds rise and this contributes to capital gains for bond holders.

Secondly, the Reserve Bank of India (RBI) recently announced that the commercial banks and RBI, which are the largest lenders to the government, will have another year to offset losses they have incurred on account of buying government bonds in the past. This action will lead to a rise in the price of bonds and this contributes to capital gains for bond holders.

Lastly, on one side due to the rise in oil prices, there is more inflation and thus more money is needed for circulation in the economy. On the other side, many government bonds are maturing, which will provide money supply. So, it is likely that we see a neutralising effect and thus RBI will take no action. This inaction here will support capital gains as explained above. Hence, this year might be a year of good gains for the bond investors.

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a Certified Financial Planner, Wealth Manager & Financial Freedom Coach.

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I am going to try and explain to you why the summer holidays of April and May are great months to get a lot of things started, financially speaking.

This time period in a way resets the financial clock. You also have the option to hit the reset button on everything you have done so far; financially speaking of course and hope to do better things better than you did last year.

Let’s look at some of the new and unusual things to do in April.

  • Make a learning budget

Learn something about money or anything you like. The best way to make money is to learn something about money. Just like if you wanted to learn cooking you will get into the cooking class. If you wanted to learn swimming you would enrol in the swimming class. If you find learning about money is too daunting task than learn something which is close at to your heart or related to your work. If you learn something new, there’s a possibility that you will use your new ideas to generate new income and in turn that will generate new wealth for you.  So make a budget, enrol somewhere and spend that budget. How about a % of your annual income? Spend it for sure!

  • Plan a unique holiday 

When you’re by yourself and without your mobile phone you will have the opportunity to think! When you have time to think, suddenly good ideas will come to your mind.  You may think this is silly but you can be sure that you will be amazed if your drivers experiment just once. So it might be a good idea to go for a holiday just by yourself. If you find that too intimidating, join a group of strangers. You can combine that with the adventures experience if you like.  Be extra careful if you’re going with your special buddies. Do this only if they are going to be in a position to help you discuss your idea and make it bigger. They must play the role of complimenting your thoughts. So make a schedule to do this holiday and obviously make a budget to make it happen. Think & create new ways of making wealth.

  • Make a prediction and make it happen

Be brave. Let’s aim to grow and multiply net worth by 50% by the time you come to the end of this financial year. This is not a joke and it is easier than you can imagine.  I’m speaking about NETWORTH and I’m not talking about return on investment. If your networth is Rs. 100 today, all I’m saying is that let’s aim to make this a 150 by the end of this year. This networth comprises of all your savings till date. This can be achieved by simply saving aggressively every month for the next twelve months. Just put this into a recurring deposit or liquid fund so you don’t spend it.  We just have to prove to ourselves that this is possible. Where and how we will invest this money will think about that later.

  • Eliminate a negative belief 

I want to give you an exercise here. Write down all your negative beliefs you have about money and wealth. Most people are not able to achieve the desired level of wealth because they think about wealth negatively. So even if you are earning a good amount of income you will never see yourself becoming wealthy. Examples are money causes problems, money causes a fight, managing money is complicated etc. Then for each negative thought, you have written down the positives i.e. the opposite for a few months. Soon negatively biased feelings will evaporate.

  • Make a new investment; something you have not done before

Again here you do not have to be a financial expert. The idea is to learn something new. There are hundreds of investment options. Our objective here is to learn something new. Talk to your advisor and seek his or her guidance. Just a word of caution here; don’t do anything which is speculative or is something that you just can’t understand. Do what do find easy you understand and do that then.

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a Certified Financial Planner, Wealth Manager & Financial Freedom Coach.

Seeking financial freedom? The time is NOW!

John Lewis famously remarked, “If not now, then when? If not us, then who?” This is so appropriate in the current financial world that we live in.

That statement will leave to rest every other argument that is conservative and against the idea of wealth creation. We are often faced with the situation where there is no option but to create wealth. Read on to know why!

Interest rates are painfully low. For all those diehard fans of guaranteed investment returns, there’s hardly any place to go to. Thinking of fixed deposits? Feeling happy with 7%? And fully taxable? That period is over. Period.

That doctrine of investing into pure fixed deposits and similar instruments is unfortunately standing challenged. There is no option but to sprinkle it with a combination of a little something that will add to the returns earned from fixed income type of securities. In fact this category of investors are in a way, best placed in terms of the current tax laws.

They can earn about 9-10% with minimal or near zero tax over about five years and more. Starting to generate rate of return above the inflation level of 7% is starting to create wealth. So there it is; there is no option but to move in the direction of creating wealth.

For more evolved investors, who invest in equities and who and still sitting on the sidelines tend to run out of patience every now and then. They are sometimes waiting for the right time, sometimes waiting for correction, sometimes waiting for valuation and sometimes waiting for just nothing. Sometimes, just too busy to take action!

I totally understand not wanting to lose hard-earned money. But if the money does not move it will stagnate. That’s the problem with money.

Hit the Ground Running

Inaction and inactivity kills it. Makes it costly to hold. Makes us lose opportunities, sometimes small and sometimes significant. I know of many people including my dad, who just kept investing into equities and holding forever. No doubt they were hugely (big HUGELY) better off then the people in the same time zone. I think they could have done far better with some smart lessons on asset allocation. This is because if they compare the growth rate of their holding over a period of 20 or maybe 30 years the compounded rate of return earned is often not impressive.

It is just marginally better or a few percentage points above the fixed deposit rate. Hence the need for asset allocation, which simply put is not to have all eggs in one basket at any given point in time. These sections of investors anyways create wealth, and, asset allocation is the tool that ensures that the process of wealth creation continues uninterrupted. So again there it is; even for this section there is not option but to start enhancing their wealth creation activities, else returns will continue to remain forever mediocre.

Then there are skeptics and there is nothing much for skeptics of everything, except that they need a serious dose of financial education. Perhaps what if needed is a proof of concept and for that, which better country to live in other than India where financial transparency in investments is so high that I sometimes feel, it comes from another planet.

 Your Money Needs Action

Today, there is a whole lot of variety to choose from and we have never been more spoilt for choice. But the most important thing in all this is to understand that your money needs action. It needs activity and for that the time is now!

And furthermore, if you asked me this question 10 years ago; I would have said that, the Time is NOW. If you ask this question 10 years hence, I will still say the Time is NOW. Any time is the right time to start the process of creating wealth. All that is important is that you take your first step; then continue it all the way with zeal and determination… till you have the level of wealth that you desire. And if you accumulate more than you need, still do it and share it with the world.

If you want your financial freedom; then the Time is NOW!

Kartik Jhaveri is an expert at planning money, life and aspirations. He is a Certified Financial Planner, Wealth Manager and Financial Freedom Coach.

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Venture fund Aspada was co-founded by Kartik Srivatsa and Thomas Hyland in 2012 and has made 17 investments so far across Fin-tech, agriculture, health and edu-tech startups.

Young Turks takes a look at their investment thesis, their differentiated VC model and meet three of their portfolio companies – Capital Float that underwrites unsecured loans to startups and SMEs; Dunzo, a hyper local concierge and delivery player that is also Google’s first direct startup investment in India; WayCool, a Chennai-based agriculture-tech startup.

RBI may blink on PCA but not on NBFC window in today’s board meet: report

The Reserve Bank of India may agree to bring some public sector banks (PSBs) out of the prompt corrective action (PCA) framework in the upcoming board meeting, reported Business Standard.

However, it is unlikely that the central bank will accede to the government’s demand to set up a special refinance window for non-banking financial companies (NBFCs), the report said citing sources privy to the discussions.

Some of the banks will be brought out of the PCA framework if the government agrees to the central bank’s terms related to fulfilling their capital needs, the report said.

The development, as per the report, could impact the 11 PSBs that currently come under PCA and have collectively posted a net loss of over Rs 10,000 crore in Q2.

However, the report added that the RBI is unlikely to make such arrangements when it comes to giving a special refinance window for NBFCs.

 

(586) 245-6260

The Indian market started on a positive note on Monday, tracking its Asian peers. Benchmark indexes opened nearly half a percent higher led by financials and pharma stocks ahead of the crucial Reserve Bank of India meet later in the day.

The Sensex jumped 165 points to 35,622.40 in the initial trade, while the Nifty started above the 10,700 level, at 10,720.50, rising 38 points. The Nifty Bank moved up by 67 points to 36,312, while Nifty MidCap also rose 44 points to start at 17,552.

Among 4 declining sectoral indexes, the BSE Telecom lost the most by 2.71 percent, while BSE Realty was leading the 39 advancing sectors. The Nifty PSU Banks and Nifty Pharma rose nearly a percent.

Among top index gainers, Yes Bank shares gained 6 percent, while Dr Reddy’s Labs also surged 2.31 percent. Eicher Motors, Infosys and Hindalco rose between 1.5 percent and 1.81 percent.

Bharti Airtel shares were down by 3.16 percent on profit-booking. Indiabulls Housing Finance fell 1.31 percent. HPCL, Axis Bank and IndusInd Bank fell by up to 1.15 percent.

Shares of public sector banks were mixed ahead of the crucial RBI board meet. While SBI and Bank of India shares dipped by up to nearly 0.6 percent, Bank of Baroda, Syndicate Bank and Canara Bank rose by up to 1.7 percent.

The Indian rupee opened flat at 71.92 against the US dollar on Monday, unchanged from Friday’s close at 71.92. The 10-year government bond yield opened at 7.81 percent against its previous close of 7.82 percent.

Asian shares traded positive with Japan’s Nikkei surging nearly 0.4 percent and Hong Kong’s Hang Seng 0.31 percent higher.

Also, catch all the action and updates in our 6692466463.

Nestle, Unilever go head-to-head in bid war for GSK’s consumer biz: report

Nestle and Anglo-Dutch consumer giant Unilever are pitted against each other in the final round of talks for GlaxoSmithKline’s consumer nutrition business which includes Horlicks, The Economic Times reported.

The third contender Coca-Cola has opted out of the competition, the report said citing three people aware of the development.

The bids are believed to be in the range of $3.1 – 3.5 billion and the winner will also have to launch an open offer to buy an additional 26 percent stake in the GSK Consumer Healthcare, the report said.

The deadline for the submission of the final bid offer has been extended by a few days. The earlier deadline was on November 17, the report added.

 

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Rahul Easwar calls himself a Gandhian. The news anchors who let him go on with this on their debates do not want to know what is Gandhian about preventing someone from entering a temple. It, however, raises concerns over understanding of what it means to be Gandhian.

Gandhi, in his times, formulated a certain form of protest – Sathyagraha; he endorsed the English word for this – Truth Force. This was distinct from passive resistance that was in vogue with the Irish freedom fighters. The word, Sathyagraha, an adaptation of the Sadagrah (a Gujarati word suggested by his nephew), was coined by him to describe the agitations he launched in South Africa. While non-violence was Gandhi’s creed and it was inherent to Sathyagraha, Gandhi was categorical that it was not just the form of the agitation – non-violence — that defined Sathyagraha; the content of the agitation, or let us say the aim or the objective was as much central to the scheme as was non-violence.

The point here is the campaign or the agitation that Rahul Easwar represents over the Sabarimala issue is neither Gandhian in form nor is it anywhere close to Gandhi and his scheme in its content (that is the demand or the objective).

Let me explain why the agitation is not Gandhian. What we saw in the couple of days in mid-October and again in early November was a set of people, organised in collectives, blocking the path to the shrine; and declare that they shall block women from entering the temple, whom they suspect were between ages of 10 and 50 years. In all the agitations that Gandhi led, and the many more that his comrades organised in India and across the world, do we find any one where the protest involved preventing another from walking on a path or doing whatever she/he wanted?

There was, perhaps, one exception to this; in response to Gandhi’s call against alcohol, there were organised picketing of shops and liquor vends, particularly in parts of the Madras presidency. This, however, did not witness the kind of vigilante that one saw on the roads leading to Sabarimala where buses were stopped to screen passengers and cars were vandalised.

It is the content or the objective behind this agitation that makes it all that is contrary to Gandhi and Gandhian. The Sathyagraha movement, to Gandhi, was inherently reformist in direction and radical in its core. And the most prominent among those were the long years, particularly after the Poona pact he signed with Ambedkar, in the early 1930s that Gandhi devoted to the temple entry campaign and as part of the movement he conceived to end untouchability.

The campaign had two elements: One was that Gandhi, a proclaimed believer, refused to enter temples that prevented entry of men and women from the Scheduled Castes (whom he called Harijan); the second dimension was to handhold members of the community to enter temples and this he left to his comrades. Kasturbha did that in many instances; and one of those temples is in Kalmadom in Palakkad in Kerala and the deity happens to be Bala Ayyappa. The land belonged to the local royal family and Kasturbha walked into it. This is adjacent to Kalpathy, an agrahara village and home to the Tamil Brahman community in Kerala; T.V.Krishnaswamy Iyer, a Gandhian who laid his life fighting the colonial rulers was Gandhi’s host and even set up an ashram outside Kalpathy agrahara where destitute children are provided a home and pursue their studies in schools around there.

Gandhi and Gandhian struggles then would mean assertion of the rights of people who are denied of that by odious customs and practices and in this case that of women who are denied the right to worship Lord Ayyappa at Sabarimala; and those who prevent this are anything but Gandhian.

In other words, Rahul Easwar and his ilk ought to be told by those hosting shows on TV to desist from claiming anything to do with Gandhi and they represent forces against Gandhi and his ideas.

V Krishna Ananth is Professor of History, SLABS, SRM University AP, Amaravati.

Indian professor in the US used students from India as servants, says report

Ashim Mitra, an Indian professor at University of Missouri-Kansas City, used students from India to perform menial tasks at his home in the US, reported The Kansas City Star.

The professor compelled his students to act as his personal servants. They hauled equipment and bused tables at his social events and were expected to tend his lawn, look after his dog and water the house plants, according to nearly a dozen former students that The Star spoke to.

Dozens more declined to go on the record for the story, said the report.

Through Mitra’s hints and direct threats, students said they feared he would have their visas revoked if they did not comply with his demands, reported The Star.

A student who earned her doctorate at the UMKC pharmacy school in 2013 told The Star that students feared the repercussions, if they refused Mitra.

The report said that the university knew about the professor’s behavior but it overlooked the complaints for years as Mitra was among the successful faculty members, who were helpful in gathering funds in million dollars for research at the university.

But one of those colleagues, Mridul Mukherji, who is also from India, is suing Mitra and university officials. He filed two related lawsuits in Jackson County Circuit Court — one in 2016 and one in 2018, said the report.

 

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Buy Reliance, Britannia, Divis Lab & HDFC Bank, says Chandan Taparia of Motilal Oswal

The latest analysis and commentary by stock market guru Chandan Taparia, derivative & technical analyst at Motilal Oswal Securities on what is moving the markets today.

He shared his views and readings on Reliance Industries, Britannia Industries, Divis Laboratories, HDFC Bank and Bank of Baroda.

Talking about stocks, he said, “Recommending to go long on Reliance Industries with a stop loss of Rs 1,100 for higher side target.”

“Britannia has given a consolidation breakout by holding above 50 day exponential moving average. We have seen surge in the volume and delivery activities. So expecting positive momentum in Britannia towards 6,200, one can buy with a stop loss of Rs 5,830 level,” he added.

“Divis Laboratories trading at lifetime high territory. We have seen short covering activity which indicates that this is set to move on higher territory. So one can buy with a stop loss of Rs 1,525 for an upside target towards Rs 1,625,” he further added.

On banking front, Taparia said, “We expect HDFC Bank to move towards Rs 2,070-2,075 with a stop loss of Rs 1,970.”

“We have positive view on Bank of Baroda. The stock has given a consolidation breakout and may head towards Rs 120. So one can trade in Rs 115 call to play the upside movement of 4-5 percent on the short covering activities.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Disclosure: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Mitessh Thakkar on November 19: Buy BoI, Eicher Motors, Maruti & SBI

The latest analysis and commentary by stock market guru Mitessh Thakkar on what is moving the markets today. Check out his top stock recommendations.

He spoke at length about Bank of India (BoI), Eicher Motors, Maruti and State Bank of India (SBI).

“BoI is a buy with a stop at Rs 86, look for targets of Rs 93. Eicher Motors – stop at Rs 24,000, look for targets of around Rs 26,300. SBI also I have a buy with a stop at Rs 286 look for targets close to Rs 305-306. Maruti is my final call, it had a good breakout on Thursday and Friday appeared to be some kind of a pullback. It is close to support areas, so buy with a stop at Rs 7,290 or just below it and look for targets of Rs 7,450,” he said.

Follow stock recommendations by Mitessh Thakkar here: black-banded

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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The government may tone down its aggression in Monday’s meeting due to the fear that the Reserve Bank of India (RBI) governor and two deputy governors may quit if pushed too hard, reported The Times of India.

According to the report,  both sides are expected to point out the merits of their view points in the upcoming meet that could well see a tussle between the two sides.

The report said that the “RBI representatives are expected to impress upon its 18-member board that the stress in certain sectors is not for want of liquidity but has more to do with a crisis of confidence among lenders and the absorptive capacity of small businesses.”

The crux of the tension lies with the dissatisfaction of the centre in face of the crisis that the economy witnessed. The government believes that the RBI’s actions are crippling firms and impacting credit flow. The RBI, on the other hand, is apprehensive about allowing board members, who come from various fields to have a serious say on regulations.

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The latest analysis and commentary by stock market guru Sudarshan Sukhani on what is moving the markets today. Check out his top stock recommendations.

He spoke at length about Britannia, Bank of Baroda, Eicher Motors, Hindustan Petroleum Corporation Ltd (HPCL) and Lupin.

“The first buying idea is Britannia. A perfect bullish head and shoulder pattern has broken on Friday. So this is a positional trade. Buy the stock, hold on to it, it is an outperformer and it will give you much better rewards. Don’t try to day trade this one. The second buying idea is BoB. I never thought I will see the day when a public sector undertaking (PSU) bank comes in my buy list. Surprisingly two of them came up, BoB and Canara Bank. BoB had a slightly easier chart to trade in. It has been in a sharp dip, it is already on the verge of breaking on the upside. This is a short-term trade, don’t carry it for long for a couple of days, three-four days, whatever the trade gives you. It is not in the same league as Britannia but it is there, it worth buying into,” he said.

“A double bottom in Eicher Motors, a breakout on Friday, another positional trade. So while midcaps are doing badly, some of the bluechips are doing well and giving us bullish signs. So Eicher Motors is a buy. Irrespective of how crude behaves and it is not going to go up, crude will simply become choppy. Bharat Petroleum Corporation Ltd (BPCL) and HPCL are both giving signs that they are willing to go higher. Also Lupin – pharma’s correction itself is coming to an end,” he added.

Follow stock recommendations by Sudarshan Sukhani here: (520) 439-4968

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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Indian rupee snapped 4-day gains and opened marginally lower against the US dollar on Monday, as oil prices resumed their rally on expected production cut from the Organization of the Petroleum Exporting Countries (OPEC).

At 09:10 AM, the (740) 644-4363 at 72.01 a dollar, down 8 paise from its Friday’s close of 71.93. The home currency opened at 71.93 and touched a high and a low of 71.93 and 72.02 a dollar, respectively.

The rupee on Friday strengthened by 4 paise to close at a fresh two-month high 71.93 against the US currency despite a rebound in oil prices and a stronger dollar.

The local unit fell as oil prices rose on Monday as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply towards the end of the year. Brent crude oil futures were up 0.8 percent at $67.29 a barrel.

Meanwhile, foreign funds bought shares worth a net of Rs 844 crore Friday, the provisional data showed.

The rupee is the worst performing emerging market currency having lost almost 15 percent since January this year. Between April and September the rupee has plummeted more than 7 percent to the dollar.

In debt markets, the yields on the 10-year government bonds rose 0.05 percent to 7.82 percent after closing at 7.82 percent on Friday. Bond yields and prices move in opposite directions.

 

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