Markets Trending Down
The last few months has been a roller coaster ride. The markets have gone up too fast. The FIIs have pumped in too much too soon.
This analyst feels that the markets (sensex) will trend down to 17500 as a first support level and might even go down to 16000 to 16300 in medium term.
Key factors - hardening of interests and expectation of further rise, inflation is still a worry, Europe has still now come out of woods and to top it middle east / northern africa is in a turmoil. In view of this, the developed markets despite not giving the high returns as the emerging markets will provide the safety.