The good results coming could not carry the market beyond 5400, the point as expected acting like the precipitous fall is just around the corner. 

If you are not bought in Puts each morning likely gives you a good entry point this week as the markets can't decide where to go. 

Of course if there are enough buyers with daily FII buys hitting $200 mln at Thursday or Friday last, and ICICI or SBI breaking out ( HDFC Bank is also not looking busy going down so is likely staying up but stable) and the GDP report dull of course putting paid to that with 2.5% farm growth and 6.9% the official estimate from MOF for the annual rate of growth

Limited Iron ore mining allowed in Karnataka with output capped at 30 mln tons and 49 mines allowed to open could still be reason to rejoice. In house producers will have to transfer or sell to others at marketprices and no tbased on contracted prices.

The Power generation target is going down by 25 GW and that is an awful cut in the Twelfth plan target, Adani Power results testimony to bad fx trade spoiling another good business model with guaranteed 16% earnings(ROE) and Opto, Cipla and Lupin keep Pharma strong

The TCS and Infys are getting ripe for the big down mov eand the next piece of economic data could just do it esp with subsidies capped at much less than 50% reimbursement to 37.9% hardly higher than last year's 33% when it was expected to double for the government as well

A couple of airlines could soon be wiped out with KFA and Air India living on borrowed tme and Spicejet having "substantially eroded" net worth

 

 

 

 

Posted via email from The India Investment Post