Some mornings looks definitely sunny and cheerful . Other times we have an overcast sky with clear signs of heavy rain and thundershower coming .
But then there are those days which is neither here not there. Where the sun struggles with the clouds with no clear winner .
Then while having your morning tea you wonder whether to carry your umbrella , or whether to take the risk of taking your car out.
There is a lot of haze in Singapore now. But Singapore has nothing to do with it . Its something to do with pollution and faulty farming in Indonesia. But haze doesn't understand political boundaries. It travels all the way to Thailand and much beyond.
We live in an integrated world . Events in far of countries affect the quality of our air , our summers and winters.
Our stock markets have a lot in common with the weather.
Integrated , unpredictable , whimsical !
And then we have human emotions , and crowd psychology to add more uncertainty to the financial markets.
I have to step out from home . So do I take my umbrella?
Thus even after all the uncertainties and difficulties I have ' to take a call' on today's weather .
Yesterday Indian equity started in the green but drifted down . Its looks like market is tired and will remain sideways with a downward bias. Its best to remain stock specific when the market lacks in direction like this.
IT stocks like Wipro can be accumulated on declines . Indian IT sector looks close to an inflection point . Where to find the next Alibaba?
Also look at supply chain companies like Gati and Bluedart .
We have been all along bearish on INR for the medium term and remain so for now.