morning thoughts...
The markets remained highly volatile and subdued ahead of the expiry and union budget, the same trend is likely to continue in next sessions with increased volatility and huge oppurtunity.
Technically the markets have now reached a make or break level and a huge move is coming soon.
Astrologically mega change of uranus , jupiter and mercury takes place - get ready for a 600 points move in nifty soon.
FIIs have pumped in billions into Indian stocks over the past 8 months, ever since the Modi government got elected. And if nothing else, the Budget this time around will be an important yardstick for them to measure whether this government is serious about reforms.
However , now it is not that the foreign investors are not cued into the earnings performance of India Inc. And the same have been disappointing to say the least. The earnings visibility too remains hazy with most corporate capex anchored to critical reform measures. Despite this the FIIs have been buying stocks in India at premium valuations. The only logical rationale for this being that 'India is their best bet', on a relative basis.
The positives in favour of India clearly outweigh the negatives as long as the government acts on its promises. However, if continues to show no signs of doing so, the deep pocket FIIs will instantly start looking for 'better bets'. And that will mean billions of dollars moving out of stock markets in India to other more lucrative emerging markets.
What could also shake FIIs' confidence in the economy is its sovereign rating. Rating agencies like Moody's have refused to upgrade India's rating based on the new GDP growth data. And the writing is clear on the wall that fiscal measures will determine India's rating going forward.
Coming to the commodity markets volatility will continue in bullions , base metals and energy with a buy on dip strategy.
www.astroeyes.blogspot.in
Yesterday's calls sent
Double bumper Drl 3400 pa- buy at cmp 57 sl 45 targets 100 - went 112
Jackpot Abg shipyard - buy at cmp 219 sl 212 targets 240 - went 242
Axis bank - buy at cmp 552 sl 549 targets 560 - went 559.50
Idea - sell at cmp 153 sl 154 targets 150 - hit sl
Hexaware - sell at cmp 273 sl 275 targets 265 - went 264.70
Zinc Mcx - sell at cmp 128 sl 128.30 targets 126.50 - went 127
Silver Mcx - buy at cmp 36100 sl 35950 targets 36500 - went 36450
Natural gas Mcx - sell at cmp 183 sl 185 targets 177 - went 178
Icici - buy at cmp 329 sl 327 targets 336 - hit sl
The markets remained highly volatile and subdued ahead of the expiry and union budget, the same trend is likely to continue in next sessions with increased volatility and huge oppurtunity.
Technically the markets have now reached a make or break level and a huge move is coming soon.
Astrologically mega change of uranus , jupiter and mercury takes place - get ready for a 600 points move in nifty soon.
FIIs have pumped in billions into Indian stocks over the past 8 months, ever since the Modi government got elected. And if nothing else, the Budget this time around will be an important yardstick for them to measure whether this government is serious about reforms.
However , now it is not that the foreign investors are not cued into the earnings performance of India Inc. And the same have been disappointing to say the least. The earnings visibility too remains hazy with most corporate capex anchored to critical reform measures. Despite this the FIIs have been buying stocks in India at premium valuations. The only logical rationale for this being that 'India is their best bet', on a relative basis.
The positives in favour of India clearly outweigh the negatives as long as the government acts on its promises. However, if continues to show no signs of doing so, the deep pocket FIIs will instantly start looking for 'better bets'. And that will mean billions of dollars moving out of stock markets in India to other more lucrative emerging markets.
What could also shake FIIs' confidence in the economy is its sovereign rating. Rating agencies like Moody's have refused to upgrade India's rating based on the new GDP growth data. And the writing is clear on the wall that fiscal measures will determine India's rating going forward.
Coming to the commodity markets volatility will continue in bullions , base metals and energy with a buy on dip strategy.
www.astroeyes.blogspot.in
Yesterday's calls sent
Double bumper Drl 3400 pa- buy at cmp 57 sl 45 targets 100 - went 112
Jackpot Abg shipyard - buy at cmp 219 sl 212 targets 240 - went 242
Axis bank - buy at cmp 552 sl 549 targets 560 - went 559.50
Idea - sell at cmp 153 sl 154 targets 150 - hit sl
Hexaware - sell at cmp 273 sl 275 targets 265 - went 264.70
Zinc Mcx - sell at cmp 128 sl 128.30 targets 126.50 - went 127
Silver Mcx - buy at cmp 36100 sl 35950 targets 36500 - went 36450
Natural gas Mcx - sell at cmp 183 sl 185 targets 177 - went 178
Icici - buy at cmp 329 sl 327 targets 336 - hit sl
