What a Shame !- India's fourth largest software company's chairman says whatever you see on the balance sheet is false and cooked up!!! And also imagine - the analysts at major brokeing firms and institutions kept themselves busy evaluating the company's prospects on these 'arbitrary' figures !!!
If a person like Ramalinga do it , to what extent can we rely on others ???
Should we call it the "FALLACY OF FUNDAMENTAL ANALYSIS ??"
The Satyam stock took the 'air' out of the markets. Hardly did we see a revival in prices and almsot a break out on charts - and the Satyam episode ruined it !
Technically we may say that one should now become bullish only above 3150. Also a break and close below 2855 will be negative for the markets and in such a case we may test 2740 - 2600 levels in the near furture.
Lets keep our fingers crossed and hope that this is not the tip of the iceberg !
CA Rajiv D Khatlawala
Head of Research and Training
Jhaveri Securities Ltd.
No comments:
Post a Comment