Posted by: Babu Suresh | March 7, 2009

NSE Nifty Spot-Weekly Analysis-6th Mar 2009

Daily and Weekly charts of Nifty Spot:Nifty_Spot_D&W_06th Mar 09

The week ended with a fall of 5.2% for Spot Nifty with certainty amongst many that she would soon breach Oct.08 low, especially, the media and its spectacular analysts. The most talked and worried about, the FIIs, if my understanding of the sebi’s statement is correct, I don’t see any evidence for panic.

Let me ask this simple question, when your house is burning and coming close to being thrashed to ashes, would you rather not be concerned about it? But even then, there seems to be steady flow of FIIs investment for they know they cannot afford to desert our market, for this is where the future lies, the yet to be unfolded prosperity lies, let politics and other related worries be aside. The economy is unquestionably, undeniably poised to take a major shape and huge take off in the coming years. They are not stupid not to be aware of. The change that I am waiting to see in the famous and infamous FIIs is that they look at and treat our country, our economy, our markets with difference and deference unlike earlier for it was treated as a easy money making machine, like the much talked about US currency printing presses. They must have clearly, unquestionably realised that the fear factor will not work any more in our market for that bunch who were religiously following them were evicted from the market, except of course the usual media hogs, by these big guys themselves by their own grand actions.

Its high time we realised and accepted that our own FIs have more wealth and potential, which they have been exhibiting since Jan. 2008. Lets show our gratitude to them; had it not been for them, we would all have become bankrupt way back in early 2008 itself, before any of the leading banks in US started falling like pack of cards.

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