Sell NIFTY

NIFTY

04:00 PM | 09 Dec 2011

4,866.7

Change:-76.95Change%:-1.56%

Open:4,870.75Prv. Close:4,943.65

Today:  4,841.75

52-Wk:  4,639.10

4,918.35

6,181.05

I mentioned in my post on Oct 2, 2010 on an impending crash and expensive valuations. I also stated that this would probably be the longest of the downturns, with no clear indications of up move. I also predicted that the last leg of bear run is yet to come and probably will not be anytime sooner. Looking at the Sensex charts, this would well be the last leg of fall and this is not going to end anytime sooner. With global economy showing no indications of bullishness, weakening rupee and rising interest rates aren't the best of the facilitating factors for bull run to start.

A weak rupee though may aid the results of companies focused on exports(IT, Pharma majorly), in my view, one needs to look at business fundamentals of these companies. With global clients wearing a cautious outlook, there is barely any growth in spending. Margins are thriving on currency or external factors than core business fundamentals. Given this, it would take a while before the next bull run begins. Governmental control in de-controlling currency fluctuations may not help in the long run.

Lets wait for the last leg of fall - this would be as much irritating with range bound movements as is now.