The following extract is from the theindianstocks com posted on 5th jan
Should the US recession deepen significantly and /or a major financial crisis occur in global markets causing deep risk aversion , we see a worse case 45% downside from current levels to 11,022 .
While India Incs fundamentals remain very strong, we believe that external forces will make the extreme value theory continue to create a fat tail zone for equities in 2008.
