The new
series is likely to see the markets break out of the trading range in which it
has been confined to far the last couple of months. A lot depends upon government
action. There is still plenty of liquidity lying with global investors. India is
one of the few places where economic growth is still robust. Valuations are
attractive and market is under owned and full of pessimism. Any positive move
on the GAAR issue or pushing of the much delayed reform process could surprise
the market and result in a major push to higher levels. Regardless of whether
this happens or not a stock specific investment approach will be the best way
forward for investors.
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