Financial Daily from THE HINDU group of publications
Friday, Sep 16, 2005
Financial Daily from THE HINDU group of publications Friday, Sep 16, 2005 |
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Stock Markets Markets - Outlook Stocks & stars: Markets under astral sway Nilanjan Dey
Kolkata , Sept. 15 STARS and stocks may be as different as chalk and cheese but a section of Kolkata-based investors seems to have found a strong link between stellar movements and the stock market. That stars have a telling effect on stocks is not an altogether new theory, but the premise this time is actually being backed by technical analysis, courtesy its local proponents who are trying to buttress the charts with astrology. The move is being spearheaded by Mr Maharshi Halder, who specialises in advising people on the market in particular, and business in general. His range is fairly expansive — from predictions for day traders to estimates on index futures, from advice for loan seekers to guidance for partnership formations. The idea is to align the prognosis with the general backdrop of the market, the latest regulations, investing trends and sentiments displayed by participants. "Clearly, there is a definite interest in stocks. And there is a strong case for seeking advice from an astrologer too," said Mr Halder, not forgetting to refer to ancient India's immense contribution to astral science. The prognosis comes from someone who claims to be dabbling in astrology since 1985, and says he has seen it all since then. Thrown in between the ups and downs in the indices are phenomena such as badla and its prohibition, a slew of regulatory changes brought in by SEBI and events such as the two stock market scams. It is also claimed that predictions can be made in the case of short-term trading, including for stocks which are lately in the news for one reason or other. The reference here is to the likes of ITC, L&T, Sesa Goa and Tata Steel, all of which are said to have been feted by investors in recent times. "We get a lot of queries from people who are already in the market as well as from those who are trying to enter it for the first time," Mr Halder (who feels an astrologer can truly be an investor's close friend) told Business Line. The idea seems to appeals to investors, especially those who wish to secure an opinion before they actually shell out money, he added. Elsewhere in the world too there is a strong interest in these issues, it is maintained. Advice is also sought after before entering into loans and partnership agreements (including that pertaining to the muhurt or the auspicious moment). As for loans, the critical aspects are giving, receiving, recovering and the ability to pay back.
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