The Opening batsman comes to bat tomorrow!

The market is just waiting like the stadium which is full just before the 1st ball of the match is about to be bowled. Tomorrow Infosys Technologies opens it account on the first delivery of the match. And the market is waiting to see how confident the batsman is. And with the opening for tomorrow, we will then have all the participants of the parade coming in to show their wares.

If the firmness of the session preceding today is any indication and also today’s session; it seems apparent that we should be having a bang of an earnings season. Not because there will be absolute strength in the earnings per se, but because expectations are so beaten down that relatively we could be saying – “not bad” after all.

Today’s session was an eerie calm session which typically precedes the excitement that would begin soon. Am sure, all of the analyst and pundits on TV channels would be jumping and taking the hairs to the final shreds to see what lies ahead for the IT industry in particular and market in general tomorrow. Of course the print guys would bombard us with a long transcript and analysis a day later.

A very interesting file which stacks up while the Nifty has remained where it was in the past 5 months the constituents were all over the place. This makes the life of Fund managers (including – your’s truly) very difficult. The easiest way would be to buy the ETF and sleep tight. But of course we cannot do that and besides in challenge lies opportunity. But get it wrong and your are toast.

So my sense is this opportunity is going to be present in the next 6 months too; READ: that there will be enough things that will go right and wrong with Nifty companies and am sure, like in the past, we would get it right this time too.

So bear with us; and yes please don’t miss this bus. I am sure that by December 2012 we could be seeing double digit (high teens) type of returns for equity asset class. So please pitch in and get more money into this.