NaMo's I'day speech : Its effect on the markets

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timepass

Moderator
#1
#1
Did you hear Narendra Modi's independence day speech ? If not, click here :

https://www.youtube.com/watch?v=KYMPivpjRMI

What do you think it's effect on the markets in the coming days ?

I think that the market's reaction will be muted or even slightly negative. I think that it's a typical case of "Buy on rumor, sell on news". The market ran up in the last week, expecting some heavy policy announcements, and there weren't any - except the scraping of the Planning Commission. The market won't react to the new body being set up in its place till the nuts and bolts are known.

So, I think some cooling off will be there for a day or two.

Sorry Sudoku1, I don't think that Nifty is going to 7979 in a hurry :)
 
Smart_trade

Smart_trade

Moderator
#2
#2
I heard Narendra Modi's address to the nation from Red Fort and after many years felt like a leader is addressing the nation with his vision of future India.

I dont think anyone expected him to stand on the podium and make specific announcements...but he mentioned where he wants to take our country in the years to come...

Market looked a little tired on Friday though it closed at 7800...but it was not in flying mode...so it may take bit of correction ( it could be deep correction as well...) but future looks great for our country.

Smart_trade
 
R

ram2010

Well-Known Member
#6
#6
uncertainity said:
As an Indian i enjoyed hon'ble PM's speech,but as a trader there was nothing for us...a correction of atleast 150 pts is on the card..as an Indian i enjoyed his speech, and now as an trader i will enjoy my profit, as i am already in the short side
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90% of the traders loose, because they take a position.

They want the market to follow their position.:clap:

You cannot short it since its overbought.

Follow the market- Market will continue be in overbought territory till expiry. who knows.



A trader who is unbiased, can only succeed.

others will be wiped out like dust.
 
C

copypasteaee

Humbled by Markets
#7
#7
ram2010 said:
90% of the traders loose, because they take a position.

They want the market to follow their position.:clap:

You cannot short it since its overbought.

Follow the market- Market will continue be in overbought territory till expiry. who knows.



A trader who is unbiased, can only succeed.

others will be wiped out like dust.
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looks like you are also biased towards longs...
 
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Moderator
#9
#9
I saw and heard the whole speech. Wasn't impressed.

That he is a good orator is obvious. That he holds the audience interest - that too has now become obvious. Looking beyond that, it was a "nothing" speech, IMO, except for the announcement about the scrapping of the Planning Commission.

Some commentators are saying that the speech highlighted the adage "Ask not what the country can do for you, ask what you can do for the country". Well, true as that might be, it wasn't in their election manifesto, was it ? Nor was the "bitter pill" theory.

Ok. Its a new government. I'll give them a 2 year honeymoon period before judging them. Today Modi has simply fulfilled his duty as PM, of addressing the nation on I'day. That's all. Nothing much to read in the speech.
 
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Moderator
#10
#10
manishchan said:
Yes the speech realy sounded straight from heart. Spoken very well... nd for d first time pm nt reading a script nor talking behind a bullette proof glass. :)
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That "no bullet proof glass" thing was a security nightmare, with the spectators undergoing severe security checks for kilometers. That was just a populist gimmick.

and.. ah.. ahem... not really the first time, just first time since Nehruji, who didn't even carry written notes and was truly ex-tempore.
 
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