The media especially the local ones are having a field day, each has its own personal agenda and of course the main idea being to entice reader or viewer ship to increase revenue.They do need to make money or get their pound of flesh from an event which comes once in 5 years, unless something drastic happens in between.Of late some foreign media has started to actively participate in this effort. A prominent wire service, whose founder would be turning in his grave, on finding out his erstwhile company is actively promoting the favorite to win party. They have in a recent study, kept on saying that the BJP will win and Narendra Modi is the next PM constantly and in nearly every report they spew out. They even say this when they are reporting about mundane matters like intra day rupee movement in the forex market.The number of times this so called esteemed organisation, which was founded on the pinnacle of unbiased reporting, has exceeded 200 times. Now makes one wonder why they have such active interest. There is nothing called free lunches or free publicity......will media be opened to foreigners by the new government?
I always believe when the majority of the players in the market believe that something will happen with certainty it rarely does, the contrarian view works out. As will be the case with the outcome of this election. It has been proved many times over.......and as the election progresses, we shall see the effect on the market, which will start going down.The FII's were net seller's on friday, is this the turning point? Another thing to be watched out is that the polling has been above average and this is another sign that we could end up with a fractured mandate, something which our country can ill afford.
If a retailer, are you making good money is the question? I the answer is yes!!! well then, it is time for you to get off and take a holiday, come back after the elections after which this market will revert to fundamentals and not liquidity or sentiments. Invest then and hold for 2 years, or more and you will make good money.