Nifty may slip lower than 4300, says Martin Pring

Martin Pring, president of pring.com expects the Nifty to slip to 4,300 levels and possibly much lower than that. He feels that Asia is not in any better shape.

Looking at the relative strength chart, Pring told CNBC-TV18 that the US relative to the rest of the world is rising, which means that the rest of the world has been slipping much faster.
About the precious metals space, Pring indicated that gold would see a decline on an intermediate basis. "The primary trend is a bit shaky right now," he added. He also pointed out that people buy gold for the only reason that it discounts commodity price inflation. Right now, commodities are in a primary bear market, he explained. Here is the edited transcript of his interview. Also watch the accompanying video. Q: What triggered the sell off in global markets?
A: All the markets around the world are in a primary bear market, and most of them are also in a secular and a long-term bear market. For the US, the secular bear market began in the year 2000 and is likely to continue for another 10-years. India also experienced a peak in 2008 and is in a secular bear market. Things are very serious on a long-term basis. Q: What do you foresee as the way forward from here? We saw a big fall in the month of August. Do you see a second wave to that going into October?
A: It depends on how we end September. Seasonally, September in the US is the weakest month of the year and October often provides crashes.
If we were to continue in the next week as we have continued this week, then probably the market will be oversold in the very short-term basis and there wouldn