Thursday, 16 October 2008

See good buying opportunity by year-end: ODL Sec

Sandy Jadeja, Chief Market Strategist and Head Of Global Training, ODL Securities said there is just no confidence in the market and people are just not willing to buy. He said the markets haven't seen the scary capitulation point. "That's happening right now."

He feels the markets are going to approach a very good buying opportunity for year-end. "That's going to happen within the next 1-2 weeks. If the BSE starts hitting around 10,000, we could go down towards 9,950 and may be even 9,900. That will be capitulation. On the Nifty, it could be possibly around the 2,900-3,000 mark."

Anand Tandon, Director-Equities, Brics Securities, is also bearish on markets. He feels the markets are far away from a valuation bottom. He feels we are in a strange territory right now and it is not easy to make a forecast

According to Tandon, inspite of sharp cool off in commodity price, inflation still remains in double-digits. "We are running deficits of all kinds whether it is current account or fiscal deficit. All of them are increasing. I am not sure that we have a situation where the government has too many levers to pull when it comes to the macro-economic picture."

Source: Moneycontrol

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