"Don't Focus on making money; focus on protecting what you have." Trade Safe

Bulls and bears make way for the horses. More than market trading it would be horse trading or the result of it that markets all over will keenly watch. All eyes will be on New Delhi over the next two days (and perhaps beyond that), as the Government desperately tries to garner the requisite numbers to survive the "Trust Vote" in the Lok Sabha on Tuesday. The last few days have revealed the true colours of India's ever deteriorating politics. MPs and parties are switching sides like chameleons change their colour. The Lok Sabha will be convened today for a two-day special session. The vote is too close to call as the Left, BSP and UNPA drum up support against the N-deal and the Congress-led coalition.

Over the weekend, the JMM decided to vote for the UPA, while RLD and JD(S) chose to partner the BSP. Politicians are in great demand, with parties resorting to aggressive poaching. Like cricket or any sport, anything is possible in Indian politics. History shows that even a single vote (or lack of it) has been able to change the fortunes of the incumbent regime. We can't predict whether history will repeat again tomorrow. The event risk is just too big, and the game is wide open.

At such time "Don't Focus on making money; focus on protecting what you have." we expect the market to be volatile and rangebound.Against this backdrop, we advise caution. One should not indulge in aggressive buying.

Trade Safe

NORTHPOLE RESEARCH TEAM