panch-tattva talk…european and US markets on fire

Friends,

The analysts in India and abroad had an uphill task in interpretation of budget as an excercise falling short of the required directional proclaimations regarding the reforms and also kept crying foul of deficit. The interviewed ministers and the govt’s spokesmen were subjected to grueling interviews to admit some right things that the budget did not include and some wrong thing that it included. I must commend the ministers and spokesmen for very successfully warding off the misplaced onslaught of the critics.

There has been more than a weeks’s trading since the budget which has seen a fall that surpasses all the previous falls in remembered history of Indian post budget meltdowns. The wetern economies have also been seen as the ones which will be coming out of bad times only in distant future. The pervading gloom has seen some bad days for the markets. The losing streak has howeevr been broken today by the European markets and US market. They have grown in strength by close to two percent to still more, this evening. This, if followed by Asian markets tomorrow morning, will give a boost of no ordinery nature to markets in India. If this happens, I will be more than pleased for continuously telling you to remain confident and keeping invested.

Our closing of Nifty at 3974 is going to be history in all probability. My expectation that a small lot of better than expected results will trigger the markets upwards, renains.

HariOm,
krsnaKhandelwal