A: The October lows were the lows in my view. Our house view is that the October was the month wherein we have seen the lows and post that whether we look at the IIP numbers in terms of the index level of the IIP and ground level activity, there has been some improvement over October and November whether we look at January-February including March – the airline numbers and otherwise also at ground level whether we see it in retail or in other sectors also – whether we see the passenger vehicle numbers or two-wheeler numbers. So across sectors we are seeing some bit of improvements.
In terms of market levels we have made a bottom already in October. Breaching that level, I think it is very dicey. As far as this rally that we are already in at this point of time, there is some more momentum in it. We can still go higher to 9,500-10,000 because that is where the next resistance level is. Whether we will cross it, I don’t know at this point of time because there is some kind of selling pressure that can emerge at 10,000 levels because investors are still apprehensive about whether this can sustain.
