Rally doesn’t indicate return of bulls: Shankar Sharma
Shankar Sharma of First Global continues to believe the markets are still seeing a bear rally as he sees no economic or fundamental factors to indicate the end of the bear phase. He added that poor trade data in India could drive equity markets lower. “Chances that this is the emergence of a bull market is very negligible,” he said. Sharma is not surprised by the quantum of this rally given last year’s fall. The global rally, he said, is drawing to a close and added that there won’t be much incremental gains from these levels. “It‘s presumptuous to assume global economy has turned around.”
Sharma sees more pain in global banking and expects further bad news. He said there would be a decisive move in either direction in the near-term and does not rule out the possibility of the markets going back to its lows in 2009.
source: Moneycontrol
Tags: analyst, baar rally, fundamental, market views, nifty, sensex, Shankar Sharma, sharma, Support
Similar Posts:
Latest Query
- by Sam
Search Our Archives
Research Desk
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis