Thursday, September 22, 2011
Blood bath on Dalal Street
We have said in our sites and columns that Jove in the 10th is detrimental to the Indian economy. It was proved right as the stock market plunged 704 points.
It was virtually blood bath on Dalal Street. The Dow fell and so did all indices.
Even though India may become the third largest economy by 2012 ( by GDP PPP ), now for seven months ( during Jupiter's transit of Aries ), she is in for a turbulent phase.
It is better to hold on. only at the bottom should one invest.
Speculation is taboo as anything can happen. Gold is also falling, may be temporarily. So is crude.
The problem can be compounded when Saturn leaves Virgo on Nov 15th. Only in May, when Jupiter moves over to Taurus, in India's 11th can we hope to see a bullish curve !
A 4.2 percent drop was the least desirable. The Federal Reserve warned of significant risks to global economic growth. All other Asian markets fell with key indices in various countries losing between 2-5 percent. Selling pressure was seen all over the bourses, as all the broader markets and sectoral indices closed deep in the red. Realty, metals, oil, gas and banking indices of the BSE closed 4-6 percent down. Nothing to panic, say the technical analysts !