Fears of Chinese monetary tightening and European credit crisis resurfacing are causing havoc in the markets worldwide. Some more weakness can be expected in the near term. Weak IIP numbers and high inflation are also likely to prevent a break out rally from happening any time soon. The downside too is restricted as on a relative basis the Indian Economy as well as our Corporate World is still shining. Liquidity worldwide and in domestic markets is still strong. Hence we recommend investors to use declines to buy.
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