Why does Nine Rivers Cap feel mkt can go lower in 6 months?

Investor sentiment continued to take a beating today. Weak corporate earnings and high inflation continue to take a toll on the Nifty, with global markets doing little to help our market from this downturn.

In an interview with CNBC-TV18, Sangeeta Purushottam, Managing Director at Nine Rivers Capital says we are still sometime away from the bad news actually bottoming out. She forecasts more pain, less joy for the market in the days ahead.
The next six months can see market heading lower, according to her. "The reason for that is we still have at least two to three more quarters of pain as far as corporate results are concerned," says Purushottam. Below is an edited transcript of her interview. Watch the accompanying video for more. Q: We have gone through most of earnings season and read some of the macro numbers which have come in from our market. Putting all of it together, can you justify more upside in the near-term?
A: No, I don