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Market Pro's Top 5 Plays on India

Monday, 8 Nov 2010 | 7:02 PM ET

In an effort to strengthen US-India relations, President Obama is visiting the Subcontinent, where trade of one of the most important items on his agenda, reports "Fast Money" contributor Ron Shah of Jina Ventures.

Obama has met with three of India's most influential leaders in business, including Ratan Tata of Tata Motors , Mukesh Dhirubhai Ambani of Reliance Industries and Rajan Bharti Mittal of Bharti Telecom. The focus of their talks how to increase exports to India and create jobs in the US.

To trade India, Shah recommends the following:

  • HDFC Bank
  • ICICI Bank
  • Dr. Reddy's
  • Tata Motors
  • Infosys

Because Indian markets tend to be volatile, Shah recommends playing these names on a long-term basis.

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Trader disclosure: On November 8, 2010, the day this video was recorded, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Pete Najarian owns (BAC), (DD), (F), (GDXJ), (LVS) and (YHOO). Terranova owns (APA), (AAPL), (ARUN), (AXP), (C), (DIS), (GOOG), (GS), (FCX), (HES), (IBM), (ISRG), (MCD), (NKE), (OIH), (ORCL), (OXY), (PCP), (PEP), (PFE), (POT), (UPL) and (VRTS). Joe Terranova also owns (FCX), (FFIV) and (SLB) puts. Guy Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC) and (MSFT).

For Brian Kelly:
Accounts managed by Kanundrum Capital own (TLT)
Accounts managed by Kanundrum Capital own (TIP)
Accounts managed by Kanundrum Capital own (JEF)
Accounts managed by Kanundrum Capital own (TD)
Accounts managed by Kanundrum Capital own (GLD)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own (SLV)
Accounts managed by Kanundrum Capital own (CLF)
Accounts managed by Kanundrum Capital own (ANDE)
Accounts managed by Kanundrum Capital own (GPRE)
Accounts managed by Kanundrum Capital own (JJG)
Accounts managed by Kanundrum Capital own (HD)
Accounts managed by Kanundrum Capital own (PCL)
Accounts managed by Kanundrum Capital own (XHB)
Accounts managed by Kanundrum Capital own (FCX)
Accounts managed by Kanundrum Capital own (JO)
Accounts managed by Kanundrum Capital own (EWH)
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Accounts managed by Kanundrum Capital own Euro
Accounts Managed By Kanundrum Capital own (POT) Calls
Accounts managed by Kanundrum Capital are short Japanese Yen

For Joe Terranova:
Terranova is chief market strategist of Virtus Investment Partners, LTD.
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Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLF)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (XLU)
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Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (WMB)
Virtus Investment Partners own more than 1% of (YDNT)
Virtus Investment Partners own more than 1% of (DRYS)

For Guy Adami:
Adami’s wife works at Merck

STEPHEN WEISS
Weiss owns (DIS)
Weiss owns (FWLT)

RICH ILCYSZYN
***No Disclosures***

RON SHAH
***No Disclosures***

TIM BOYD
***No Disclosures***

MIKE KHOUW
Cantor Fitzgerald makes a market in (AAPL)
Cantor Fitzgerald makes a market in (AOL)
Cantor Fitzgerald makes a market in (BAC)
Cantor Fitzgerald makes a market in (BWA)
Cantor Fitzgerald makes a market in (C)
Cantor Fitzgerald makes a market in (CSCO)
Cantor Fitzgerald makes a market in (DISH)
Cantor Fitzgerald makes a market in (F)
Cantor Fitzgerald makes a market in (GOOG)
Cantor Fitzgerald makes a market in (HGSI)
Cantor Fitzgerald makes a market in (INFY)
Cantor Fitzgerald makes a market in (INTC)
Cantor Fitzgerald makes a market in (JDSU)
Cantor Fitzgerald makes a market in (JPM)
Cantor Fitzgerald makes a market in (LVS)
Cantor Fitzgerald makes a market in (MCD)
Cantor Fitzgerald makes a market in (MDRX)
Cantor Fitzgerald makes a market in (PCLN)
Cantor Fitzgerald makes a market in (RAX)
Cantor Fitzgerald makes a market in (YHOO)

CNBC.com with wires.

  Price   Change %Change
HDFC Bank Ltd
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ICICI Bank Ltd
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INFY-IN
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DRREDDY-IN
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