India Markets: Lows Re-Visited

We are back to the 2500 level on Nifty. The outlook for earnings has worsened and the monitoring mechanisms of the stock market are under scrutiny.

Expect earnings to continue downwards; my forecast has been Rs 200 for Nifty earnings. Given the absolute meltdown in global demand, I may have to revise this figure downwards.

A test of 2000 Nifty seems fairly secure now but keep looking for good companies.

While my earlier forecast was for 4000 Nifty by January 2009, I will have to scale this back by about six months to June 2009. Even I did not imagine that the Indian government would be so inept at dealing with this crisis…sleep-walking and denial.

An election is coming, and there is always hope.

As you know I am a big cricket fan, and today I was saddened by the shock attack on the Sri Lankan cricket team. Shiva give them strength to overcome this attack.  An attack by cowards on innocents.

Subscribe by RSS Subscribe by Email