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Bull rallies in bear markets


Vinod K Sharma  |  New Delhi 


>2% RISE

1993-94 49 1994-96 28 1996-97 16 1997-98 35 1999-2000 45 2000-01 47 So don't conclude that a bull market has begun merely because you have had a 700 point rally on a given date. Within the folds of a bear market, it is possible to see large retracements from intermediate bottoms. So don't jump every time the market pulls up from a low and ask, whether this was the bottom? I remember a trek during my school days. We were trekking from Govindghat to Ghangaria en route to Hemkund Sahib and the Valley of Flowers. After the initial 10 km, the trek became arduous and I kept asking our teacher how much more we had to go? After a few times, he got fed up and said, "You will know when we are there."

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First Published: Sat, July 05 2008. 00:00 IST