Tuesday 8 January 2013

Paradox of Forecast and a Sovereign Downgrade

It is difficult to understand how people project levels like 7000 for Nifty when rating agencies are warning of a India sovereign downgrade to ' junk ' status for huge number of reasons with very little prospects of improvement.
Even if we were to believe that equity markets may rally globally in 2013, Nifty may only inch upwards and retest the 2008 highs or remain at elevated levels for a prolonged period of time and only consolidate at higher levels.

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