Ambareesh Baliga has expressed his free and frank opinion on state of market in year 2012 and he is bullish on Indian stock market as his words are as reflected below:
Basically the expectations were low; the sentiments were pathetic when we went into 2012, so it was a point from where you really couldn't go down too much more unless there was major adverse news and that did not happen. The results which came in were slightly better than what most of us were expecting, so you clearly got that bump up. You even had positive noises coming from Delhi and that also helped the sentiment. The world news flow was also better, so that helped too. Basically we have reached a point where you really require some news flow which will change the environment over a longer-term period, which I don't see happening in February. As far as we are concerned, domestically budget and elections both would be game changers going ahead, which again are quite some time away because of which I feel that February could be a dry month unless you have major newsflows coming internationally. I feel that February could see slightly lower levels in range of 4800-4850 on the lower side and possibly 5200-5250 on the higher side. But for it to cross 5250 and move towards 5350-5400 or possibly higher like 5500, I think you need to have these two events playing out the budget the elections.
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