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MARKET OUTLOOK Markets are likely to find a panic bottom soon. In all probability it will be this week. This is a market correction it is not a collapse. Economic outlook continues to improve in India, Europe and the US. China has its own issues and growth should slow down continuously for the next decade. I believe that 7800-8000 levels are great levels to buy in India. The panic will soon subside and markets will recover. Many global markets and commodities are now as oversold as they have ever been. Global funds flows always create situations where markets either correct more than they should or go up more. This happens in Euphoria and Despair as we see today. This shall also pass.

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The probability is very high that the worst of the markets is already behind us. My expectation of a bottom around 7900-8000 for the Nifty seems to be playing out. There was always a probability of a slip to 7700 levels however this seems to be a lower probability event now. I am a buyer in the markets now. The second half should be decent for the markets with a high possibility of a new high by the end of the year.

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