Winning Strokes: Think Different

The Nifty (9857.05) came in for some corrections, after hitting the much-awaited 10,000 mark; but

again recovered and closed in the green yesterday, up 4.55 points.  The Indian market has been on a roll over the past couple of quarters on the back of the implementation of GST, which the analysts feel will be able to plug some of the loopholes in the indirect tax structure. Apart from this, good monsoon and positive global sentiments, also had their own contributions in pushing Nifty northwards. It was a broad-based rally driven by fundamentals and the market has created wealth for investors across segments – be it Large-cap, Mid-cap or Small-cap.
India is an emerging market with GDP slightly upwards of $2 trillion in 2017.  India’s GDP was at $541 billion in 2003, crossed $1 trillion in 2007 and $2 trillion in 2015. The Indian economy has almost doubled between 2003 and 2007. It took four years for India’s GDP to double from $0.5 trillion to $1 trillion between 2003 and 2007 in the backdrop of better global environment; and eight years from $1 trillion to $2 trillion between 2007 and 2015, mostly due to the Reforms carried on by the earlier UPA government.

But how long this rally  will continue, on the back of (manipulated) data, presented by the current dispensation is anybody's guess. Narendra Modi's regime is the most unscrupulous government, I have seen in the last 35 years -- it can do anything to stay in power. So, are the "Bhakts", who can go to any length, including spreading lies, present fudged data, stone pelting (....remember the JNU case), lynching, verbal abuse, et all...to reach their goals. Recently, there were lot of noise regarding the abolition of the controversial, "Triple - talaq" (of Muslims), but in reality nothing much happened except the honourable Supreme Court putting a temporary injunction on the practice and asking the government to frame laws in the Parliament.
In 1906, the Bombay High Court’s SL Batchelor held the practice of "Talaq-e-Bidaat" to be “Good in Law, though Bad in Theology”, while dismissing the plaint of a Muslim woman. Around one hundred and eleven years later, a Constitution Bench of the Supreme Court, set aside the practice of Triple Talaq as unconstitutional.
What is interesting is that the minority judgment delivered by Chief Justice JS Khehar and Justice Abdul Nazeer, chose to echo Batchelor’s sentiment in the case of Sarabai v. Rabiabai. This was the longest of the three decisions, by quite some distance. Running into 272 pages, the judgment took a deep dive into the Quranic verses as well as the Hadiths, or the pronouncements of Hazarat Mohammed, on the issue of Triple Talaq.
However, in future I don't think much will happen on this front except, that the Narendra Modi's government according to my analysis might take the stand of Islamic Scholar, Taqī ad-Dīn Ahmad ibn Taymiyyah's (1268-1328 - a member of the Hanbali school of jurisprudence founded by Ahmad ibn Hanbal), position on the issue......but, the government's propaganda machine is active 24x7, spreading bluffs and concocted stories.....

Anyway, Videocon Industries Ltd (Rs.18.70) hit the buyer freeze in both the NSE and BSE. Th next targets are Rs.21-22, as mentioned in my earlier post.

There is no stopping of Future Enterprises Ltd, the stock yesterday touched an intra-day high of Rs.44.70, in the BSE. Unless, the supports at Rs.39 - 41 are broken on the downside, we can look for targets of Rs.47 - 51.

Mandhana Industries  Ltd (Rs.5.83), hit the buyer freeze in the BSE. The stock after mindless correction, is again heading towards Rs.14-15 ranges, from where it fell. Accumulate the scrip on every intra-day declines 

As expected Jaiprakash Power Ventures Ltd closed at Rs.5.92, near the upper circuits in the BSE. I am looking for targets of Rs.8 - 8.5 in the short term -- remain invested.

My recommended Tata Steel Ltd (Rs.638.95) at around Rs.2.17, made an intra-day and 52-week high of Rs.640 in the BSE yesterday. Those who are still holding can book partial profits and hold the rest with a SL  of Rs.616.

Happy Ganesh Chaturthi to all my friends and blog readers. May this festival bring happiness in your lives; may all your dreams come true.