panch_tattva talk…they have done it

Friends,

The worst fears have come true and those who set course to bring the Nifty down to 4000 have demonstrated it. I may tell here that this downward movement has been engineered and is not natural. The technical position had got worsened and public got slightly unnerved. I still say that take this opportunity for buying. They say that the gaps are filled first and then only the further march is seen. This also has happned now.

Fundamentaly, the IIP number is better for the may month at 2.7pc, basic goods growth has been better than year before, in May month. The rupee has lost 2.3pc this week ($ Vs Re 49). FM said that the stimulus package cost Rs 40000 crs to govt in lost revenue. Also, if the scrip-wise changes are seen there are very many surprises.

The whole week of weakness has not impacted Maruti’s share price where as it should be most sensitive if the economy is supposed to be poorer. I know just one thing that if the first dozen or so results come alright, the Nifty can’t be suppressed any further. Infosys has given an OK result already.

So, if you have staying power, stay put.

HariOm,
krsnaKhandelwal