MarketFastFood-FE – 081107

 

– Obama win failed to cheer stock markets and Dow fell on the eve of his victory and EU markets are down as I write these lines. Different economic data’s released point again towards recession which spooked not just Dow but Asian markets as well. Obama speaks Change we Can, yes there’s lot to do once he occupies White House on Jan/20th, its not going to be easy that’s for sure.

– Change We Can! India needs to do the same now. The biggest change we require is transformation from appeasement politics to developmental politics. TN CM Karunanidhi has criticised Hindus on their practise of wearing Tilak’s on foreheads! He knows tolerant Hindus would not bother much and his statement would appease other religions which he considers as his votebank. I really was amused to find that his family does not practise what he preaches! Read www.myindiatalks.blogspot.com

– The latest development is Nitish Kumars party JDU’s all five MLA’s are going to submit their resignation to the speaker tomorrow! Laloo Prasad Yadav to till now was threatening to resign over Raj Thackeray issue ( May I call these threats as DUMMY Threats? ) and also collected the resignations from his MLA’s to prove Bihar that he is their savior. Nitish has turned all pressure back on Laloo by declaring that JDU would be meeting speaker to resign! Laloo is in fix and has to take a call between Bihar and Rail Ministry!

– Infact Laloo had learned this pressure tactics from another UPA ally none other than Karunanidhi who collected resignations from it’s MLA’s over Tamil issue, what finally happened we all know!

– Spoke so much about politics, but why? It’s because I smell elections and feel we will be sent to polling booths by February, its not very long period from now and hence lot of developments from political front would keep flowing which would only confuse people and the markets. This is the reason India Inc would be going slow on key economic decisions and thus there has to be lull till new Govt. is installed… rather NDA is installed. Change We Can?

What happens when we expect big and get a shock? That’s what happened to market today. Market was expecting to see a Single Digit inflation today and when the numbers were announced market men got shocked to see it above last weeks figures and thus the anticipatory recovery before the announcement died immediately after the event.

– On one side FM regularly speaks on media saying India would not see much of the recession, and on the other side PM says India could be severely affected! In this saga of contradictory statements it’s the Aam Admi (Antonia’s read Sonia’s Fav Word) which is being sucked out like Aam itself (Aam = Mango).

– After reading all above Iam confident you are confused! Well same is the case with markets. MFF had mentioned that it’s over bought when Nifty was at around 3150, we have corrected from there and are seeing the selling pressure, as mentioned yesterday on the website we should correct at least till 2800, may be till 2740 before fresh buying. Updates are also posted under the Category “MarketFastFood” on the website www.MarketFastFood.wordpress.com thus keep visiting from time to time.

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