Indian stock markets not out of bear grip yet

The market was down by about 450 odd points on the Sensex (more than 100 points on the Nifty) . One can expect market to pickup from Monday closing or by Tuesday for a substantial upside trot. Caution is the word as this is not the end of a bear market or beginning of bull phase. This is only a temporary bounce back and the strength in this up movement may give us a fair idea about the surprises in the future market. We shall be looking at specific individual counters from Monday onwards for a trading move.

The contrarian view to above is that the US markets seem to be in a tight bear grip and the whole world is looking to follow them. The economic situation in US seems to be far from a comfortable level, and it looks like a long time to come back to normal levels. The good news may be that oil seems to be weakening in its upward journey and this may give some impetus to the stock markets.