Some Thoughts

Photo: Indiainfoline

Nifty yesterday closed at 11,937.50 up, a mere 16 points or 0.13%. This is a dead cat bounce, after that massive fall on Friday. The indices struggled the whole day to remain in the green territory.

The Nifty is likely to test 11700 mark in the coming days due to lack of fundamentals or the supporting props. 

The P/E of Nifty 50 is 27.81 and has an EPS of just 429.10. With these figures in place do you think there is any reason to believe that Nifty will close above 12000?

The operators are playing in 50/60 stock and is managing the indices.  This can't continue for long, ultimately like a pack of cards,  the Nifty has to fall.  

Before that happens, you need to take caution and trim down your overnight buy positions, till a correction of around 200/250 gets over in its intermediate journey to below 10600 mark. 

In this tepid backdrop, I would suggest the small investors to stay away from the market for some time, till the situation stabilizes a bit around 11700 mark (Nifty_spot), before falling to 9500 levels. 

Unfortunately,  this government is more concerned about the non - Muslim diaspora of India's neighbouring countries, than the economic upliftment of its own citizen. 

When there is job scarcity for the Indians, with unemployment figures according to some media data is near 45 year high, will it not precipitate the problem if there is a legal influx of foreign citizens into India, through CAB route? Think about it... 😀

Amit Shah in the Parliament said: "It is the Congress which divided India". 

So,  why then Narendra Modi  made a gigantic statue of the Congressi, V B Patel?  

Why Narendra Modi calls M K Gandhi,  Bapu?  Both of them are responsible along with Md.Ali Jinnah,  a Shi'ia Muslim, isn't? 

Ironically,  while Amit Shah trades power, the logic is left begging!!