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News Analysis


10/05/2012
Our previous writing of 19-Apr-2012 (Sensex wiping over 1000 points) was confirmed today much earlier within 21 days (14 trading days) where Sensex lost over 1083 points. This has occurred much faster than anticipated with Sensex closing at 16420.05 and Nifty closing at 4965.70. Today's event also exhibits grip of bear getting much stronger on Indian equity market and co-insiding earning season is going to take its toll to bring the market further down. Recalling the last such occurrence with short-lived rally in-between, the last known bear grip was on 21-Nov-2011 from where market had lost nearly 5%. Since our last writing as mentioned, this has already brought market PE from 17.78 to 16.73 and further will bring to more reasonable (and healthier) level than what some of the index stocks are showing. In my view, Sensex may reach or even break beyond 15,500 level shortly. NEW INVESTMENT - Clearly, the market is in breakdown sentiment. Such type of market move provides a differentiating opportunity only to those few who have great stock-picking abilities. Any new investment should be done very cautiously and only with a long term view on the market. Mihir Sandesara - www.money-maker.co.in


Source : MySmartStocks.com