Market watch

I have been away from the blog for almost a month now. But not away from the markets. I have not written because there is not much to write about. HDFC Bank is doing wonders after it crossed the life time high. It is not falling at all. Finding higher supports regularly like Mumbai Indians are finding victories. HDFC has a buzz about it. It is going to separate its investments in a Special Purpose Vehicle. So HDFC is also rising regularly. Telecom stocks are not yet out of the bear grip. Larsen has yet to cross the triple top at 1729 for a rally later in the year. BHEL is moving up smartly though. SBI is faltering but it is a good long term bet. The present chief is steering it well.
ITC is going to cross 300 quite easily. The charts indicate that. It is a safe stock to buy in this market.

On the political and macro economic front, there are good policy initiatives happening. Internal security threat from the Naxals is being taken seriously. US has been told bluntly to mind Pakistan designs. RBI is watching inflation and increased liquidity closely. Rates may rise soon. SEBI has taken a bold initiative to intervene in the mis-selling of ULIPS.
We hopefully will have a better monsoon because we need food. The GOI has faltered on import and export management policies. They have received adequate flak for that.

In our country democracy is working at times though it ought to work at all times. I think things will improve as younger population gets into voting and governance.

So we wait and watch the quarterly and yearly results. Looking at NIFTY chart, there is lot of optimism factored in to prices. Hope the businesses deliver and feel good factor stays till monsoons are here.

rgds
Vibhas