Indian Stocks - anyone following

S

Sikhinvestor

I am looking at Infosys and WIPRO, I think these are good stocks for maybe the long term for the next 1-2 yrs.

Does anyone trade Indian ADRS?
 
They just did an ADR here and quite a nice little story most generics are down for the year they are up 60% that should tell you something. The CEO has been behind all decisions for dr reddy for 20 years he has turned this company around and has built a pretty formative pipeline. I have my Mom in this stock and now with the democrats edging closer to power i would think group buying of medications for medicaid and such will be on the table again- that's obviously good for generics. I'm thinking of buying myself but because I'm a stupid risk taker I may want to start with impax labs first IPXL-- that chart has caught my eye.

INFY through the roof don't know if I would chase.

Hope this helps.
stonedinvestor
 
I don't know if it's just me but over the years I've had bad luck with ADR's. Not that our votes ever really count for anything, but it's annoying that ADR's often aren't granted voting rites. The main reason I buy a foreign equity is when the US dollar is in tumble mode- you get such a nice additional pop by buying in the local currency. It's very easy to have a broker code your account for buying on other exchanges. Now with an Indian stock it's different because Rupees are way over my head and I don't want to track any stock that might move 60,000 Rupees! It's much easier I think to buy the ADR. The Euro is easiest to match against, although when those bad boy Russian energy companies come a knockin' like Gazprom the stonedinvestor will undoubtedly be there!.
 
INDIA is due for major pullback....It may of started on Thursday of this week.....This is a chart of HDB, IBN, INFY, PTI, REDF, SAY, SIFY, WIT....The chart starts at the 6/13 lows that almost every ADR put in....ALL of which are India ADR's.....I sold almost 95% of my positions in these 8 stocks just this week....All ADR's look to be rolling over and profit taking looks to be taking place....My best advice is wait and watch for the upward trend to continue and not buy this dip.....

They have been some of my better performers over the last 4 months so I'm not saying you won't make money with your position, but your downside outways your upside at this point in the trade....

The chart does not include...MTE, SIFY, TTM, VSL (other India ADR's)

$COSTAverageMAN
 

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Incredible summary...ET IS THE BEST! (Hours of work saved!)


Quote from $CostAverageMAN:

INDIA is due for major pullback....It may of started on Thursday of this week.....This is a chart of HDB, IBN, INFY, PTI, REDF, SAY, SIFY, WIT....The chart starts at the 6/13 lows that almost every ADR put in....ALL of which are India ADR's.....I sold almost 95% of my positions in these 8 stocks just this week....All ADR's look to be rolling over and profit taking looks to be taking place....My best advice is wait and watch for the upward trend to continue and not buy this dip.....

They have been some of my better performers over the last 4 months so I'm not saying you won't make money with your position, but your downside outways your upside at this point in the trade....

The chart does not include...MTE, SIFY, TTM, VSL (other India ADR's)

$COSTAverageMAN
More...
 
IFN---The India CEF is trading at a 10.4% premium

IIF---The other India CEF is trading at a .73% discount


GOOD links to the data.....

http://www.cefa.com/FundSelector/FundDetail.fs?ID=8775

http://www.cefa.com/FundSelector/FundDetail.fs?ID=8816

I'm still playing india with the MINDX.....Matthews India Fund, but have reduced the position by 70% this week....

http://stockcharts.com/h-sc/ui

Then type in MINDX to get the chart quickly

It just hit me that it was an expiration week and at first glance you could think that someone was trying to defend that $50 level on IFN and IIF, but they don't have options so this reiterates my point that they could be going lower fast...

$COSTAverageMAN
 

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calling all traders from India...folks go get them off the other boards and get them to this thread! we need your input!!

there is real money waiting to be made on this Short!

if your a Trader in India, you need to be here in ET...you very welcome...come Aboard.

Michael B.
 
Hard to tell what Asia will continue to do....I'm still long China all the way, but got that feeling that the pain is due....I feel that until China starts to roll over most of Asia will have some support, but then again they are different in many ways....China just started its bull market this year where as India has been in one for the last 4 years....The Premium on IFN got squeezed from where it was back in early May and this has me thinking that ALL the hot money is not driving it this time...Which also means that the support we would expect in a sell off may not be there until it's too late....IFN was trading at a 20+% premium in MAY the retailers can't cause that....IIF is actually trading at a discount and this has to make me think the India play is getting close to another sell off....How many times in a year can it make 40% moves.....Take the money and RUN!!!!

JUST ONE MANS OPINION....THE MARKET IS MADE UP OF MILLIONS OF PLAYERS....SO I COULD BE DEAD WRONG

BTW...ENJOY THE GAME TODAY....GO Michigan and I am praying for a USC LOSS....I couln't stand to see another National Championship with USC in it....

$COSTAverageMAN
 
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