If you absorve past history of market
2008 crash, 2011 crash , 2015 crash - All 3 of them had no concerns on local economy whatsoever .... It was just purely global concerns or sell off which we got dragged along ... and Nifty PE peaked above 24 in all 3 cases
But this currency ban impact on earnings is a direct local earnings concern for almost 80% of the companies listed in NSE and BSE ... So i would not take this fall lightly ...
Brace yourself to see not just 7000 in Nifty, maybe even 6300.
IT and Pharma are not affected by currency ban ... as their income is mostly oversees ....
So expecting 6300 levels
2008 crash, 2011 crash , 2015 crash - All 3 of them had no concerns on local economy whatsoever .... It was just purely global concerns or sell off which we got dragged along ... and Nifty PE peaked above 24 in all 3 cases
But this currency ban impact on earnings is a direct local earnings concern for almost 80% of the companies listed in NSE and BSE ... So i would not take this fall lightly ...
Brace yourself to see not just 7000 in Nifty, maybe even 6300.
IT and Pharma are not affected by currency ban ... as their income is mostly oversees ....
So expecting 6300 levels