"Round and round
With love we'll find a way just give it time
Round and round
What comes around goes around
I'll tell you why"
- a song from Metal group Ratt.
The hindu mythology suggests that the god(or the supreme authority behind everything in this universe) is actually riding on a chariot and we all are entwined to the wheel of this chariot. Everything, we know of, undergoes the active cycle of creation, existence, growth, and subsequent destruction. Perhaps, the idea behind the concept of wheel of fortune.
Markets, off lately, have been stuck at a wrong end of the cycle, where no-one is feeling confident enough to move-on. The developed economy have deleveraged all(most) of the bets on the market, and are waiting on the emerging economy to boost them up. While the emerging economy is being damaged by the very process of deleveraging, leading to a crisis situation with liquidity, which is slowing down their progress significantly.
Amidst this deadlock, which is fueled by lack of enough reason to let them make the first move, something unreasonable has to lead the way.
Will the festival of Dipawali, boosting Sensex by 550+ points act as a trigger, which will end this vicious cycle of fear in the market?
Hope so, and wish everyone a very happy dipawali.
