Thursday, November 27, 2008

>INDIA Strategy (Merrill Lynch)

Still bearish; expect index of 7000 in early 2009
We felt comfortable with our bearish views on the market last year when it was anti-consensus. We are concerned about the current
consensus bearishness but think it is too early to turn bullish and expect markets to fall to 7000 in 1st quarter of 2009 led by:

To read full report INDIA Strategy (Merrill Lynch)