Friday 31 October 2008

See 10-15% spike in current rally: Alchemy Capital

KN Vaidyanathan, CEO, Alchemy Capital, said bear market corrections will be sharp, swift, and short-lived. "Now, we are clearly in a bear market. We are going to go through this sharp swift short-lived correction largely driven by an extremely oversold market covering up on the back of good news coming into the market globally and in India. I think the rally may continue for another 10-15%. But I don't think this is a turnaround for the market, this is just a spike back in this bear market."

According to Vaidyanathan, the last low would be around the level at which one could hope to see some consolidation in markets

Source: Moneycontrol

Posted by Harsh at 13:09

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