Will the RALLY last??

Last week was extremely positive for majority of Global Indices ..Fuelled by unexpected positive numbers from US like housing data and rise in consumer demand for consumer durables was one of the main reason which buoyed the DOW which catapulted the indices world over....
Effects wer felt i n Asia also with apna SENSEX breaching the psychologieclly important 10000 mark and more importantly sustaining it ......Similary the broader Nifty also closed around 3100....

But analysts world over are questioning the rationale behind this rally and for how long will it last??
They are saying it as a BMR( BEar market rally) rather than a Bull market rally....but according to many Bear market rally is the fastest way to make money...indian indices gained around 10-12 % this week led by some buoyant performance by Big boys like Reliance, infy, HDFC twins etc.....

With earning season around the corner it remains to be seen whether this rally is sustainable or not?? One thing is for sure...the earnings visisbily of corporate india would improve as compared to Q3 but still it would be mroe on laclusture side......The two year holiday from Fair Accounting practice in Book keeping aka MTM accounting will somewhat nullify the effect caused by volatile Rupee which caused many corporates to suffer FOREX Loss ...

Car sales number have looke frigid till march 25 with not much growth....but for certainly the liquidity situation has improved due to slew of measrues taken by Banks and carrot and stick policy of RBI...still more can be done and Corporate india would be hoping for that in RBI's forthcoming Monetary policy outlook....

many attribut ths week rally to Short Covering ...it truly was a factor but we can't say that markets surged only due to this....FII"s were net buyers well in excess of sold data by III's....