The trade data is ugly, which points to a weaker economy ahead, even if there are fresh stimulus measures, they're aimed at aiding the economy, not the market.

Wang Mingli

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Investors are quite pessimistic at this point, and the downward correction for traditional blue-chips, represented by the heavyweight 'nifty 50' firms, is not over yet.

We could be near the end of the rebound, because encouraging first-quarter data has been largely priced in, but whether the economic recovery is sustainable is a big question mark.