The most awaited #ExitPolls results have finally been published and are being dissected across the visual media.
The good news is that literally all surveys are showing a clean majority for NDA and some of the polls are even projecting upto 326 seats for NDA. Even if we factor in a 10-15% margin of error, the country would still see Mr.Narendra Modi standing on the Red Fort.
Market has rallied sharply again today and looks like it had sniffed the Exit Poll results in advance! We may again see an uptick on Tuesday, but it is advisable Not to jump in thinking you would miss the bus. Let the frenzy buying settle, let the Exact Poll results come out on 16th, then decide based on the results which sectors and stocks you should enter.
You can read our previous MarketFastFood article.
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Headlines Today channel at 9 p.m. today exposed certain tapped telephone calls of Nira Radia on how she lobby’d and got Spectrum for the Tata’s 25 days aftr the Cut-off.
Sad to note that Tata name figures in this mess. We believe that Tata is straight forward and “in this present world there is no space for Straight Forward people” and hence you sometimes have to bend and mend the rules!
Same is the case in Stock Markets… people believe those promising Dream Returns and finally loose money… when we at VRIDHI say “Nothings Guaranteed” we infact loose that business! 😦
Check out this site: http://www.openthemagazine.com/article/nation/some-telephone-conversations
As you may be aware, RBI has announced a few policy changes as part of its quarterly policy review today. Given below are the key points :-
Policy was along expected lines and reflects the gradual exit from the easy monetary policy stance
Leaves repo and reverse repo unchanged
Hikes Cash Reserve Ratio (CRR) by 75 bps to 5.75% – to be implemented in two phases
GDP growth estimates increased to 7.5% from 6% – despite assuming very low growth in farm production
Revises inflation estimate upwards to 8.5% at end of March 2010 from 6.5% projected earlier – expects economic growth to add to supply side constraints
Cuts non-food credit growth target to 16% from 18% – due to easy availability of funds from non-banking and external sources
Overall policy stance is to manage inflation expectations, ensure adequate liquidity and manage interest rates to support growth & ensure price/financial stability.
Source: Franklin Templeton
Many investors have been calling us for our Diwali picks. We believe that even hardcore traders do purchase certain stocks on Diwali day and just dump them for long term, like a yearly SIP! since they only trade rest of the year.
Investors willing to buy for long term can Buy:
1. Fortis Health Care Ltd. (Rs.111 approx)
2. IDFC Ltd. (Rs.160 approx)
A message has already been sent on our MFF Free SMS Group.
To Join type a Msg… JOIN MARKETFASTFOOD and send it to 567678.
Stock Specific Disclosure: We hold Fortis, We don’t hold IDFC, but have Investing/Trading interests in both the stocks.
Once Again, Have a Bright Diwali.
CERTIFIED FINANCIAL PLANNERCM
& INVESTMENT STRATEGIST
P.S: Our Stock Broking Clients will get other recommendations by SMS & Email.