BEARS PRESENCE ???????

The Nifty is well place above the 4850 technical support at the bottom and may test 5480-5440 at the top. There are some good news to be released like the STT reduction and GST. The results of HLL, SBI and auto majors may put pressure on the top but the continued positive outlook couple with RIL buy back plan may keep the Nifty float above 5080. The Nifty could bounce back to a level where it enjoyed 6 months ago. So it is very likely that the markets are not interested to become bearish for now. The Southward move that may become a correction in the rise but the sentiment is very positive. The stock specific moves will be common for next 2-3 weeks. The announced results from the big are satisfactory and midcaps earnings are good, market accepted in the current scenario.

The cool doubling of investment in Vodafone to 11.4% is apt and a wise decision from Piramals. The likely listing of Vodafone, the world’s number on in revenues, will get higher valuations in the current scenario. The markets are enjoying the FII inflow, especially to counties like India. The inflation threat is no longer an issue, the manufacturing sector needs investment support and growth has to be maintained.

The catastrophic blow to the telecos, especially to the foreign entrants may create some headache to the centre but can be dealt with the relief came from the then FM Chidambaram. The Cong. Has some brave face to accept the opposition challenge but the banks, especially the PSU may loose some money in the issue. The SBI is expressing 1100cr, PNB and BOB are in similar problems. The pain will be like, after operation patient will be calm for a while till the anesthesia is working. Once the reality come on to the senses, then the cry and jumpings take the centre stage despite the pain killers induced. This issue has may ripple affects on the markets. Every body is building their case, like the military preparation at Israeli.

The bad news is continued to be kept in shelf, will find its fissures to drop down. The markets in the world as a whole took a single direction on the North side now will find skewed moves focusing on their internal assignments. The political war fares around Iran, and the economic sanctions, oil import restrictions and payment issues. The Israeli aggression plans may give tension outputs across the globe.