The last drop from 21100 to 19500 was very fast and above all did not expect the correction to be so quick but it is more of a healthy correction.
The medium to long term bullish view remains intact. Even though short term there could be very volatile.
The view in a nutshell.
The ideal case : Sensex finds a bottom around 19200/19500
Worst Case: Sensex finds a bottom around 18500-18800.
Long term target for the next year remains at 22500.
Strategy: The current move is a healthy correction and investors should look for slow buying at current levels with a medium to long term view. Short term concerns and volatility will remain and test patience for next 2-3 weeks.
For the detailed reasons and stock specific picks for short term check the presentation done at a seminar in Ahmedabad.
Regards,
Nooresh
Analyse India
Nooresh Merani - An IT engineer by qualification and Advisor/Trainer by profession.