MUMBAI: Ray Barros, CEO, Ray Barros Trading Group, on India said: "Sensex is having a bear rally and the minimum target is 11,500 and the optimum target is about 12,500 to 12,515. The top will exceed 13,200, and if it goes beyond, then it might be a bear market rally but I am looking for those levels particularly the 12,500 to 12,515 to turn that market back down & challenge the load at 7007. 
 
On Asia Barros said, "Asian market is showing a very slim picture through the Sensex that the market is rallying, we should see the market test the break out levels of course each one having its own break out level but, yes very simple except for China."

On US, Barros said, "The Fed will have no option but to raise rates and help the fragile US economy, that being the case we will see a second tsunami in terms of sub-prime. I think the key levels that will turn this bear market rally back in the US for the Dow are somewhere between 10,700 and 11,500. S&P is in a little bit of a tighter range. Somewhere between 1170-1160 we may see a turn back in the bear market rally."