Market is headed towards south. I won't say is headed towards 13K but it can reach 13K or even less. Its not only indan market going down, entire globe is going down. In USA dow is expecte to reach 11K or even lower.
If this trend continues..... Bernake may cut rate by 75 basis point on March 18. Everything will run fine for couple of days. market will rally and for people / all experts on TV/forums bulls will be back. They will start saying market was oversold.
Comes April ...... Banks will start writing off Billions again and market will go down again. Hopefully moody's won't downgrade AMBAC . If they do then expect DOW to touch
10500 or lower. If moody's downgrade AMBAC then banks will have another 50 - 60 billions in write downs.
So for me Indian market BSE is headed towards 13K but I can't say that it will reach there/stop there/ go lower from there
If this trend continues..... Bernake may cut rate by 75 basis point on March 18. Everything will run fine for couple of days. market will rally and for people / all experts on TV/forums bulls will be back. They will start saying market was oversold.
Comes April ...... Banks will start writing off Billions again and market will go down again. Hopefully moody's won't downgrade AMBAC . If they do then expect DOW to touch
10500 or lower. If moody's downgrade AMBAC then banks will have another 50 - 60 billions in write downs.
So for me Indian market BSE is headed towards 13K but I can't say that it will reach there/stop there/ go lower from there