1. Rakesh Jhunjhunwala in a recent interview to CNBC 18 has categorically stated that since last year August lows have been broken and thus Indian stock market is now a bear market.
2. As per Rakesh Jhunjhunwala market has entered in interruption mode; however long term bullish trend for Indian stock market remains intact.
3. Rakesh Jhunjhunwala further states that one should be careful while dealing even with big names in the industry like Goldman Sachs or BoE (Bank of England) as they also change their policies at a drop of hat and it tentamounts to going back on words and thus these large financial institutions can also fail like Lehman Brothers.
4. Rakesh Jhunjhunwala further states that he had already predicted fall of US market and one can say that American bull market has come to an end and there might be a long term correction for the time being as subprime crisis can not be solely reined by reducing interest rates.