Where will the bulls get their strength from?
Last fortnight, I had asked whether we are at the b`eginning of a tradable rally. “The reason for the glimmer of hope for bullish traders,” I wrote, “is that the foreign markets have crashed much more and may be due for a counter trend rally. If there is no fresh bad news on the domestic front, a short bounce may be on the cards. This, of course,...
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...
