MFF – 090113 – 20:24 Hrs

+ Indian government is already under pressure and is trying hard to paint up some conclusion to the world, out of the terror country, Pakistan sponsored attack on Mumbai. Fifty days have gone by and even after repeated statements by ministers of various countries, Pakistan is still in denial mode. It is unclear who is the actual leader in Pakistan today and hence the world can’t expect any responsive move by the government there, which is clearly controlled by the militants. This is one of the major factors still looming large on Indian Stock Markets.

 

+ Satyam saga is yet another blow to the already slow moving UPA government. The government now has to show lot of maturity in dealing with this issue in order to send out stern message to the world, failing which India may not attract as much FDI/FII money that it would have otherwise received. The media is specially spreading lot of negativity. Initially everything was looking gloomy and even we expected that Satyam would die a dog’s death like many other companies, which just vanish in thin air and investors are left with nothing more than fictitious assets in form of shares.

 

+ What has transpired at the company till now, on directions directly from the capital is giving some room for comfort now. It clearly shows the government is not willing to take any chances this time especially since future of thousands of employees would be at stake that too when elections are around the corner. What would transpire in future is not known but it is not so gloomy as painted again and again by the business channels.

 

+ The up trend, which took shape last month, has reversed now. Infosys along with few other companies has kick started the results season. MFF is not surprised as we have been, for quite long time now, predicting no major move in the indices, atleast until a new government is formed at the centre.

 

+ Market made several attempts today to break down in a major way but there was some bottom fishing everytime the index dipped. In next two to three days if no recovery is seen above 2800 then as per the SMS sent on MFF group, there are all possibilities that Nifty first tests 2620 – 2590 levels before consolidating.

 

+ We are launching a new section “MFF Snippets” on the site. Hence keep visiting www.VRIDHI.co.in & www.MarketFastFood.wordpress.com the aim of this section would be to post news and views in bits and pieces as and when they arrive.

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