Sensex may hit 18000….
It seems Sensex could go up to 18,000 and then slip into a trading range between 15,000 and 16,000. The benchmark index won’t hit 18,000 in a straight run.
If the Nifty breaks 4600 decisively and holds for a week or so, it could hit 5500-5600. The markets would consolidate between 4,000-5,000 for three-four years.
The correction seen in the latter part of 2008 was a part of a major bull run that continues and which started in September 2001. “The bull market started in September 2001. We had the first leg up to September 2002 after which there was a correction. Then it started from April 2003, that leg lasted till 21, 000,” “That gets corrected back now to 7,500-8,000 and now we have resumed that bull market. So we can go to 18,000 and again come back to 15,000-16,000, make a range and then make a move which goes above 18,000.
In India the bear correction of the larger bull market is over. If the markets do not break below 4,100 levels in the next six-nine months, then surely the fall from 5,900 to 2,600 for the Nifty and from 20,000 to 7,700-8,100 for the index was just a correction in the longer-term bull market in India. Actually, in my opinion, the correction started in September 2001 because the real bottom the market made was post-September 11, 2001 and then the market went up to 3,600 and had a historic correction back from April 2003.
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