Note: #alliesfin
Are we in one of the slowest Nifty bear markets in the last 30 years?
The Nifty’s 15% decline in the ongoing correction has yet to qualify as a bear market. However, its seven-month duration has already made it the seventh longest decline of the 19 corrections of over 10% we have seen in the Nifty over the past 30 years. In the six previous longer declines, the lows in the first seven months equated to a median of two-thirds of the eventual price damage. Overlaying this would give a target of 14.5k for the Nifty, ie. a 21% fall from the top with the 12-month forward PE falling near its average of c.16x. So far, this is also a rare instance when the Nifty has clearly outperformed EM and not underperformed the US during a decline.
By: via @AlliesFin Serve Stock Market
