Tit - bits

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On last Friday, the BSE Sensex fell 135.78 points to close at 39,614.07, while the Nifty 50 shed 28.40 points to close at 11,642.40. On the candle stick chart, a Doji - like pattern was formed indicating indecision. 

The Nifty would get support at 11,500/11370. On  the upside it would continue to face resistance around 11,770/11,860.

The NDA rule has spelled doom for Indian economy. According to a report published in the Hindustan Times, 1 November, 2020, the disparity between haves and has only widened. The former comprise around 10% of the population out of which the richest 1% held 42.5% of the national wealth generated in 2019 — while the bottom 50% held a mere 2.8%. Similarly, the richest 10% of the population holds 74.3% of the total national wealth — while the remaining 90%, a mere 25.7%.

According to an Oxfam report released in January, the richest 1% in India holds more than four times the wealth held by 953 million people who represent the bottom 70%. Around 800 million people in India earn less than ₹10,000 a month.

Once bubbly Telecom sector  has now a debt of more than ₹4.4 lakh crore as of March 31, excluding Adjusted Gross Revenue dues.

During NDA rule mismanagement is seen everywhere.

This government is busy with Hindu - Muslim equation,  while economic road map continues to deteriorate. 

The auction of coal blocks has not enthused bidders despite government claims that, with private sector participation, coal production will increase exponentially. In the process, the government also hoped that these auctions would be a source of substantial earnings for it. 

All these hopes have been belied. This has impacted power and other key sectors of the economy. 

Our indigenous production of coal is not enough to meet the demands of the market. With private enterprise not opting for coal blocks sought to be auctioned, importing coal at high cost is hurting the industry. India’s thermal coal imports have been rising since 2017, and were nearly 200 million tonnes in 2019 — an increase of 12.6% year on year.

#Post monsoon the construction activities are likely to pick up. Add the shares of Ashoka Buildcon Ltd (Rs.60.70) near the CMP. 

#Many of you have requested me to recommend a song called "Penny Stock". Take care of your demands I have decided to recommend Imagicaaworld Entertainment Ltd (Rs.3.85) during market declines. It was earlier named as Adlab Entertainment Ltd. It runs the business of parks and hotel. The company has opened its hotel, after the government order. We can look for targets of Rs.5.60/6.  This is a speculative scrip and hence a SL St Rs.3.50 is a must. 

Also, if you have a portfolio of Rs.1.2  - 2 lakhs, you can go for my profit sharing arrangement. During Covid - 19 pandemic, I have lowered the portfolio size.