By krsna Khandelwal – A veteran market analyst
Friends,
The yesterday was the third day of negative sentiment of high order but mostly out of fear for some and by design for some.One does not part with asset backed by hard-core value and earning capacity without mulling over matters and in absence of any compelling negative performance posted and anticipated. You are well aware that at certain point even the loss announced for a company concerned does not allows it to trade at a far lower level because the all was factored in. In the present time also all that is relevant for market has been factored in, so why then such panicky behaviour displayed and it may be explained only by ascribing it to fear and manipulation, depending on who is on which boat.
Nifty closing on 1st Day of July at 3896 has lost more than 35 p.c. value during this CY against Shanghai composite loosing about 50 p.c. and DOW Jones loosing about 15 p.c. The fall is more in dollar terms because the rupee is poorer by about 10 p.c.
Now, while we all know that this state of affairs is because of discomfort with oil prices of today which rule at about 144 for a dollar, the pessimism is misplaced . When time comes it will be business as usual.
Hari Om
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