Mkts to lower sharply before FOMC meet: Bhambwani

Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

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.