Nifty has broken below its recent highs, and is trading below its key level of 6000. Market has been bogged down by the spate of bad news and controversies, and if they do not clear in time, we may be in for pretty bad times.
However, my view is, we are still very much in the bull phase, and will keep going up smoothly. Breaking the old high is just a matter of time, and we would very soon be into unchartered territories. Unlike developed countries, where the growth rates are pretty low, India has progressed over the past few years. So, the earnings and balance sheet are now much stronger than in was in the last bull run. So, purely from the incremental progress made in the past 3 years, we should be at least crossing the previous peak soon - may be in 2010 itself.
I would be a buyer below 6000, and only when market breaks below 5600 I would change my views. Above 5600, I'm bullish on India.
However, my view is, we are still very much in the bull phase, and will keep going up smoothly. Breaking the old high is just a matter of time, and we would very soon be into unchartered territories. Unlike developed countries, where the growth rates are pretty low, India has progressed over the past few years. So, the earnings and balance sheet are now much stronger than in was in the last bull run. So, purely from the incremental progress made in the past 3 years, we should be at least crossing the previous peak soon - may be in 2010 itself.
I would be a buyer below 6000, and only when market breaks below 5600 I would change my views. Above 5600, I'm bullish on India.
