The vote on account would be presented to Parliament on Monday the 17th February. The single biggest talking point would be the fact that fiscal deficit would has been maintained statistically at 4.8% of GDP. It does not matter as to what went into achieving the same and what was sacrificed or not provided. What matters is the fact that it was maintained.

One hopes that the joy of having achieved this statistical marvel does not result in exuberance and make the ruling Congress led UPA to announce new sops before the election code kicks in. Assuming nothing more than the reduction in customs duties on gold is done, markets are poised for a smart rally over the next two months. It may also be mentioned that Parliament would in all likelihood be dissolved at the end of the week.

The Delhi CM has resigned after being in office for exactly seven weeks. What next is a million dollar question which no one can answer? The fact remains that his entry into politics has made the whole scene that much more interesting, confusing and keeping people guessing.

Between now and till elections are actually held, I believe markets should have a fee run and one should not be surprised if we see new highs in the markets. One needs to be patient, pick the right stocks and ride the profits.

Enjoy the bizarre happenings of our leaders in Parliament where pepper spray will become the new way of life.