MFF – 090121 – 20:24 Hrs

+ The US markets failed to cheer Obama, as a result sending Indian markets into coma. We witnessed intense fight between bulls and bears last week and finally bears took control of the situation. MFF has been time and again writing that Obama is not a magician and what we all saw till date has finally proved to be pure hype. Lot of expectations have been built over Obama and even if he can deliver, its not possible overnight.

 

+ US data on housing market is likely to be announced and DOW is likely to take cues from that. Market was skeptical on one of the line of Obama in his inaugural speech, which read as… “without a watchful eye, markets can spin out of control” Hope the US markets stabilize today else it would be bad news for global stock markets.

 

+ Results till now have been more or less satisfactory, with few really surprising and some really bad, but most being in line of expectations. Reliance Industries would be declaring it’s results tomorrow, and Indian stock markets would take cues from that particular result. They are expected to be bad on low crude rates, but hope they do not prove out to be nasty. RIL generally surprises everyone, the actual outcome would be known only tomorrow. Iam not sure will announce the results during market hours or later.

 

+ MFF has been talking about deep interest rates fall. ICICI has given a statement today that they would be down in next 6 weeks, MFF feels it might happen earlier than that. RBI is meeting on 27th of this month. A fifty basis point cut in rates is already factored in. Bigger the rate cut, better for the markets. MFF has been repeatedly writing past two weeks that Nifty may touch 2620 – 2590 before bouncing back.

 

+ Last week some analysts were talking about the levels on tv and today people have even started writing about the levels, since they have now gathered courage to mention the levels as they now look more nearer and possible than they were earlier at 2800+

 

+ MFF thanks all readers for the frequent sms’s sent appreciating our efforts. We request you to write few lines in the TESTIMONIALS page on the website which will really encourage us further.

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