This view has been aired by him at a Private Equity International India Forum 2009. This is probably the reason that Bombay stock market giant has invested in his new home at Lonavala which was Rakesh Jhunjhunwala Secret and has now become a talk of the town.
Our Analysis
Thus as per our analysis off late Nifty has shown respect to 4900 level as a support and has failed to cross the resistance beyond 5100 and thus these are key levels to be watched.
He said that the future of Indian markets depends on the performance of the Indian economy and the international scenario. He is optimistic that India will grow between 12-14 per cent over the next 5-7 years and also feels that corporate profits should grow at a rate between 15-17 per cent compounded. He feels that factors that are guiding this growth are irreversible, whether it is skills, tolerance, democracy, demographics," Jhunjhunwala said. He feels that western economies are going to feel the pinch for some more time before some recovery can commence in those countries.
Rakesh Jhunjhunwala is a force to reckon with and feels that Indian money is fueling the market which is good for its health. He feels that Rs 2,500-3,000-crore local money will come and in two years maybe Rs 6,000 crore and expects India to hike interest rates before March next year.
Do not get worried as Long term trend is up in respect of India and Rakesh Jhujhunwala feels that Sensex is likely to Hit 50000 mark in the long term and same view is also supported by Templeton Asset Management Guru Mark Mobius who feels that money supply is growing, and thus we will continue to see a bull market which will surpass the previous highs.
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