Monday, September 25, 2017

Hi Nifty or Hai Nifty !!!!

Well after a stupendous run and more the Indian markets have begun a descent.

Will it be a perilous steep one or will the markets find a ledge to recuperate,revitalize and try to climb their way back up the cliff that is 10K only time will tell?

However the murmurs about growth not panning out and DeMon(etisation) and GST taking the blame is really not the true story.

Mr Modi and his PR team started taking themselves too seriously and their agenda of cleanliness and anti-corruption while a very good one never really created any jobs in the past three years.Not just that their attempt to change every process right down to trying to bring in far right RSS obscurantists back into the history books has been nothing short of a massacre.

Yogi as CM is a disaster.In India's largest state there is utter business paralysis,children die like flies,people are beaten on the streets,women raped yet the Government only gently chides him from time to time.

I seriously think Mr Modi is a secret admirer of Late Indira Gandhi and has embarked on a course where he wants to be remembered by historians as a "tough guy".

The little rocket man and trump sideshow is just a secondary act that could any day turn vicious.

I am told by some very knowledgable folks that crude will never get back to its old prices again but I see a sustained breakout above $50 that could cause some damage to India's BoP.

Hi is a somewhat upbeat greeting......and means good times wherein Hai connotes a more negative or mournful expression....so its anybody's guess at this point.

However I am very upbeat on specific stocks that will see earnings catch up with valuations and many ignored stocks that have withstood the tests.Nifty should see 9600 levels before getting back into the swing post January corporate results which are likely to be more 15% rather than the expected 20%+