Morgan Stanley says market would bottom at around 10,500
The bottom may lie around 10,500.
Markets are trading around 14 times forward earnings.
Valuations will get attractive around 10 times earnings."
There can be an 20-40% upside in the markets.
The markets may not go though a prolonged sideways move like the one in the 1990s, he said.
For the markets to rise, Desai said, crude prices need to top out.
One will get good buying opportunities on corrections.
Investors can buy in small amounts for in investment perspective of around 2-3 years.
markets go back to the old highs by July 2010. However, equities will still remain the best asset class with CAGR returns of around 20%.
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