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Mkts to lower sharply before FOMC meet: Bhambwani

Published on Mon, Mar 10, 2008 at 13:27 , Updated at Mon, Mar 10, 2008 at 15:32
Source : CNBC-TV18

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Vijay Bhambwani, bsplindia.com, feels that markets might see a new low soon, before the FOMC Meet in the US. “The second phase of a decline which we are in now, can be very sharp. You just need a little bit of a nudge for the market to come down or up because the volumes are poor,” he told CNBC-TV18.

 

Excerpt from CNBC-TV18’s exclusive interview with Vijay Bhambwani:

 

Q: How long before we may actually see that January low of 4,449?

 

A: I am going by the assumption that this is the second phase of the decline; what you saw as a linear sideways move between January 22-February 7 or 8 was actually a consolidation. The second phase of a decline which we are in now, can be very sharp. You just need a little bit of a nudge for the market to come down or up because the volumes are poor. My guess is you should see a new low; if at all a new low is coming very sharply before March 18 before the FOMC Meet. As per time cycle analysis, you would see a bottoming out either by middle of April, failing which you could see a long drawn affair of end of August.     

  

Disclosures:

I do not have any personal holdings in the stocks discussed today.

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