Another weak rally before more weakness?

Last fortnight, I had written that the market was breaking down. I had pointed out that “the market action last week was not just another downward move within a broad range.” The piece went on to suggest that “if, despite huge and simultaneous fiscal stimulus packages all over the world, low interest rates and low inflation, the index has made no...

The weak rally got over all too quickly

Last fortnight, I had said that the market’s bias is towards a rise but the climb will be tough. I had refrained from making a definite forecast. What followed was a classic pattern in a bear market. A weak rally and a rapid sell-off. The Sensex closed at 9,300 at the end of the week when that article was written. It went up, to close at 9,635 the...

The consensus was too pessimistic; so that market did the opposite

Last fortnight, we were in the middle of worldwide gloom and doom, made worse by further bad news from the developed world as well as the shenanigans of Indian companies. We wrote that the financial numbers that seemed like a given, were suddenly getting gutted by a changed business climate or funny accounting. The market was...