Economy

Mkts will retest Oct lows: Alchemy

Published on Fri, Nov 14, 2008 at 09:48 , Updated at Fri, Nov 14, 2008 at 14:22
Source : CNBC-TV18
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|KN Vaidyanathan, CEO of Alchemy Share and Stock brokers said markets will test October lows. "October lows are going to be the   |
|bottom of the markets. Bottoms are formed when they are tested and we retested it two-three times."                             |
|According to Vaidyanathan, markets will look for liquidity and credit in the system and is that likely to improve. As we advance|
|the bad news story to the current and the next quarter, markets would want to see how bad is that bad news. In that phase, there|
|is going to be humungous amount of volatility, he added.                                                                         |
|[pic]Here is a verbatim transcript of the exclusive interview with KN Vaidyanathan on CNBC-TV18. Also watch the accompanying     |
|video.                                                                                                                           |
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|Q: What do you think? We have turned a bit volatile these last few days. Is the market going down to retest its October lows or |
|do you think we can continue that pullback rally which seems to have fizzled out for the moment?                                 |
|                                                                                                                                 |
|A: We will retest the October lows; I do not think there is any dispute about it if we hope in a best case scenario the October |
|lows are going to be the bottom of the market than bottoms are forming when they are tested and retested two-three times. So, we|
|will test whether we test it now or whether we test it a little later that remains to be seen....