No longer immune…….

The Indian markets are resilient to the external pressures of equity fall as the markets see god future but the immediate and short-term pressures cann’t be ruled out. In my ealier write up dated: 29/10/2007, clearly mentioned the possible up side be capped at 6290.

(It can’t be stretched further….…..I foresee the Bull run can become a long consolidation period- more than 6-9 months with a range of 5250-6290 at Nifty level).
The markets are likely to see more down ward action than upward momentum. The rise and fall ratio could be of 1:3 from next week onwards until Aug-Sep-2008. Incase economy could face the challenges for next 6 months than the upward journey in the stocks resume. Indian stocks valuations based on the broad based economy and growth prospects is over, sure for now. The real test of price move in upward direction depends on the companies that have to perform given the opportunities, then the markets.