Gradually confidence is returning back to the bourses. At this stage it will be safe to assume that an early resolution to the crisis in the Middle East can initiate a fresh bull market here. On the flip side continued tension in the gulf can send the crude prices up in a spiral causing inflation to soar and lower the forward earnings guidance. However, even in the worst case, downside from these levels seems limited. Hence we retain our recommendation of fresh buying at all declines.
No comments:
Post a Comment