I did see a lot of visitors to the blog even when I was doing nothing with it.Now that was casual visitor or google trawling? What ever it was, good to see that people do check in once in awhile to see that you are alive or not.
Did the change of government make any money for you people out there?.It did for a lot of them who now have been loosing it all daily.These are troubled times in the market.One can notice, the impact on global market on India is now much more dominant than it was more.Even if we see good results locally, drop in oil price or the DOW futures is enough to see red allover our exchanges.Yesterday was a classic case where there was no reason to dance with Europe, but we danced more than they did.
Take a look at the Chinese does it bother them ...no it does not they closed positive. And now with the new rules and measures they will close positive every day.Even if the actual market is down the reporters will report that the closing was positive.Now who wants to spend time in a Chinese prison for writing the truth.More about the Chinese later. And there is a lot to write about them.I tend to agree with Soros. The next trigger for a global recession will come from China.They will make a mess of the system and they will retreat into their shell when the social upheaval starts off. By that time I get around to writing about the Chinese, I need to find out if our government might revoke my citizen ship like they been revoking visas lately, if I were to write something which could be detrimental to the Chinese .The chest size is shrinking? Or they been reading up on the V.K. Krishna Menon's doctrine on China policy?. Or do they find kow towing to the Chinese is the best way to maintain peace.
Interestingly, not many have ventured a theory about the current state of global affairs, well not may want to sound pessimistic nor do they even think of troubled times.Guess the fed has been doing that lately coming up with all the excuses for not raising interest rates.How long will they they prop up a weakling?. And Japan opened a new frontier with the negative interest which even the oracle of Omaha is confused about .Should we in India worry about negative rates , not any time soon or if ever.
It is twenty for minutes before the markets open today, the bears will keep selling and time to buy up steel, coal, oil and mining stocks ( no need to mention Vedanta, which has been rallying smartly and more to come there) by afternoon we should see a recovery especially the mining stocks in U.K will drive the rally there.Which should see us dancing to their tune may be at a faster rate. In case we crack 7700 spot on Nifty today which is likely, then we could see 7750 coming up soon.If that too gets taken out then the big bull of India j.j. wala will get really surprised to see the 7200 level which should be the bottom. Come what may, we could see us crossing 9000 by diwali. This is the writing on the wall.
The monsoon will be a good one, especially if a state like Kerala can go through a heat wave the does augur that the rains will be heavy enough to compensate for the heat faced.This has been the case in the past and history does repeat it self.
You have a safe trading day, and there will be more to come as the day passes on.