Nifty corrected today to close at 4989

Friends,

The Nifty corrected today to close at 4989 and the future was trading at 5 point discount. The question is that should you be worrying for it. I think what you hold for long term should be kept and what you have bought/accumulated as per my recommendations may be sold in part to book profits and use the money to buy more of the stocks recommended for long term. I may reassure you here that any further fall will be giving you an opportunity to buy stocks. The cement and steel scrip that were advised for long term have been quite stable, they would remain good in coming times.

Ratan Tata has expressed possibility of Tata Group being headed by an expatriate. He says that it would not be improper because 65% revenue come from overseas. I have always maintained that the Tata's overseas love was with a strong desire to be based all over and be an Indian Group only, may be it was because of the political scenario here.

In fact this is not in interest of India as when we have jobless and poverty riddled population and crave for capital for variety of needs, Tatas thought it proper to do the reverse. It would have been OK in times when our economy was not able to absorb the capital like the western economies. They have so far had no tangible benefit from their foreign ventures which has been bought. Any way, we may give them some benefit of doubt about the real intentions in what they have in mind and still consider them for India if not in India so much.

Hari Om,
Krsna Khandelwal

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