You must read previous articles and watch the given chart
carefully to understand this article completely.
For 02 March 2015: -
On 28 February 2015, FII Bought INR 614.03 crs and DII Sold
INR 740.74 crs
How can one address the quality of this budget? This budget is
totally oriented for corporate and stock market. It favours FII but ignored
Indian investors. For mid class citizen, this budget is a total failure of
hopes. You cannot expect anything when finance minister himself saying to mid
class to take care of them self. This budget gave me a feeling like it is just
continuation of Man Mohan Singh.
Hike in service tax and then hike in fuel price makes the
view ‘inflationary’ for finance year 2015-2016. This government has a nice day
dreaming habit as they quoted for double digit growth. Let me tell you the
reality of this GDP hope : -
A change in base year for computing national accounts pushed
up the economic growth rate for 2013-14 to 6.9 per cent, while earlier estimate
on the basis of old series was 4.7 per cent. Similarly, the economic growth
rate for 2012-13 has been revised upwards to 5.1 per cent, compared with 4.5
per cent estimated earlier. These changes follow a revision in the base for
calculating national accounts to 2011-12 from 2004-05. (WHY???)
Modi government is just playing with data and figures. It looks
like “Acche din – Achhe din” was also a ‘Siyasi zoomala”. Rise in stock market cannot
always say for health of economy. In past few years we learnt that rise in
stock price is just and just depends on money availability. Will Stock Market
rise? Yes, it can. I say, put a parameter of “Unemployment rate” as a measure
of economic health indicator.
For today’s trading session, we may see some higher opening. Will
this challenge 9000 levels? Let us see.
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Strategy for Nifty March
future – I do expect
some positive opening. It can open in the range of 9000 levels. I have no fresh
take right now. Budget day was light day on close to close basis. Market may
try to revalue the quality of budget with greater participation. Key support is
at 8940 levels.
S&P 500 (USA) – It came very close to 2100 levels.
This was very much expected. Even after new life time high, S&P has neither
great euphoria nor any strength to sustain. Remember, 2145 is my maximum of
expectation. It may see a fall before that also. Immediate technical charts are
suggesting that if it sustain below 2096 then we can expect fresh dip. Next
week will be interesting and challenging.
