the Tidings series looks at signals to learn from market actions for those not in possession of that “public” information silo that the markets at large have deciphered. It seems that indeed auto sales will not have a good head to report in December as we suspected while making and endorsing 2013 forecasts and Bajaj Auto and Tata motors have shown a sharp enough reaction for us to assume thats the way it has indeed gone. That also relieves the pressure on Private sector bank stocks as they remain OUTPERFORMERS
Ofcours TaMo leadership int he markets is the leadership of Defensives but its move out may not meana big enough move up led by t he banks as th year end is likeely to be approached cautiously till the exhortations for real performance in the Economy run their course and become the base expectations of the market, and then after the rally on budget performance per se ( or fall) the market barometer will rise only on such reports of better Corporate performance on Topline and earnings as now expected in the markets.
Tata Global seems to be posied for a big move but it may consolidate till Starbucks reports better management traction and 50-100 stores for the chain