Today was a quicky at the stock markets. Surprised by the ease with which the Congress is forming a government, throwing aside the left, the lalus and the amar singhs, the market is going to be on a tear for some time. The fun will be if the FII buy orders that are not executed today, get called off tomorrow. Reasonable to expect that, given that stocks are 20% higher!!
Fundamentals are not to be dicussed. Enjoy the ride, sell if you had forgotten to in the last rally. Economy will take a year plus to recover. Stocks will become cheaper again. The Congress now has the unbearable burden of expectations. From here, one can only expect disappointments, given that the market wants divestment, FDI without ceiling etc.,
Interesting is the SEBI chief's remark " we are closely watching the market". Are they not supposed to in any case?
The gossip is that Ketan is short, Anil is long and someone big is short.