Tomorrow's range does not matter as the Credit Policy has more weightage than any other matter and all the calc are surely going for a toss.
No one will be able to predict properly as to where the market will trend.
Congress has made sure that RBI should leave it's inflation loving attitude and tow the line which Congress loves the most.
Since these are (forecasted) last few months of Congress on the strong foot, Congress will do whatever necessary to clean up some of the stubborn stains of corruption.
The tactics used by Congress to wash off the stains will then later on be used as a testimony and lectures will be held in prestigious Mgmt Institutes and IIT's on how to clean yourself after indulging in a messy career.
Tomorrow's range does not matter as the Credit Policy has more weightage than any other matter and all the calc are surely going for a toss.
No one will be able to predict properly as to where the market will trend.
Congress has made sure that RBI should leave it's inflation loving attitude and tow the line which Congress loves the most.
Since these are (forecasted) last few months of Congress on the strong foot, Congress will do whatever necessary to clean up some of the stubborn stains of corruption.
The tactics used by Congress to wash off the stains will then later on be used as a testimony and lectures will be held in prestigious Mgmt Institutes and IIT's on how to clean yourself after indulging in a messy career.
Do you really believe congress can clean up this mess?
lol.....guess congress is right in thinking that people will forget about all the scams and corruption charges.Most of the people will vote based on caste/religion and or sell their vote for a daru bottle at the time of elections anyway.The corruption really doesnt matter cause it doesnt affect our lives directly.Politicians know this thats why they take corruption charges so casually.What matters is the price hikes or high inflation.Its really the inflation which is hurting the mango people most.
If somehow ...by sheer luck.... inflation start falling and reaches low levels next year(it is possible because of base effect)than congress will have a chance of coming back to power cause they have made enough money to buy most if not all of the "swing votes".Rbi is doing the sensible thing by not decreasing the interest rate till inflation comes down. But if tomorrow Rbi changes its policy and inflation continues its upward journey....this will turn into the proverbial "final nail ".
RBI has not only made it amply clear that until and unless you (Congress) reduces inflation RBI will not initiate a rate cut but also made a bold statement that RBI is not Congress property that can be twisted and turned as they like.
RBI has refused to look at the brighter side of PC who said that in coming 5 years (2017) fiscal deficit will be much lower. PC should remember that Congress is living on borrowed time and they does not know weather they will survive the coming 5 weeks or even 5 months, so all those who live on borrowed time should not talk of future.
Till the writing of this article NF has not breached 5626 level which is an important support level and which will possibly will become a resistance if broken below.