Thursday, March 20, 2014

As expected, today also Nifty tanked. During the market hours a sell in Nifty_Futures was given corresponding to the spot rate of around 6497 for a target of 6470 (spot) on the downside. The Nifty touched 6473.25 on the downside. The Paid Group Members might have made some money from this otherwise dull market, with some stocks spurting up due to sporadic news. Nifty which opened above 6500 today closed just above the immediate support levels. Now, with the Narendra Modi deciding to contest from Varanasi and Mr.Rajnath Singh trying to replace Mr.Tandon from Lucknow, the infighting in the BJP is getting stronger everyday. This is not all good for the Indian markets, which does not like uncertainty. 

A very bad precedence which was set by the top RSS leadership in connivance with Narendra Modi & Co is slowly snowballing into a some sort of crisis in the BJP, which I think will take the markets further down in the coming days. Also, now according to some media report, with Digvijay Singh emerging as a candidate to take on Modi, the Varanasi seat is looking be to slowly slipping away from the grip of the BJP. That is why Narendra Modi supporters are seeking additional seat for him in case he loses the Varanasi seat. 

In South Assam too, the condition of the BJP is very bad as the INC is likely to win both the seats from there, after a rumoured high valule deal with the AIUDF (of Badriuddin Ajmal). I commented earlier through repeated Facebook posts, that the BJP should tie up with AIUDF, when they could tie up with Muslim League in Nagpur, but then the BJP leadership thought otherwise. 

So, the BJP is not expected to get more than 4-5 seats from Assam. In West Bengal when senior leaders at present are talking about formation of Gorkhaland by breaking Bengal, then people are not expected to vote for the BJP. So, the BJP is not likely to get more than 2-3 seats from Bengal. 

Therefore, due to one wrong move by the RSS and Narendra Modi & Co, the whole equation is slowly changing against the BJP. And I would not be surprised if in the next opinion polls, the BJP's tally comes down to 170-180. 

The point is that the RSS and Narendra Modi & Co, should know how to respect the seniors in the party who sort of laid down the foundation stone of the BJP. Now, if they are humiliated in such a way, then it is  natural for people like us to feel very bad. 

Narendra Modi is a pure salesman and in Gujarat he is known to have anti--Industry image. Allowing such a person to become Prime Minister of India instead of L K Advani is a matter of great debate, especially after the way he dealt the Varanasi issue, shunting, Dr.M M Joshi to Kanpur. 

The Upper Caste Lobby (especially the Brahmins) of Uttar Pradesh might shift their allegiance to Samajbadi Party (SP) this time, due to initiatives taken by Akhilesh Yadav