Nifty @ 8000

This is what we published in Jan 2012. (Spotting the next bull move). “For us a sub-4,500 Nifty, nearing 4,000 is a screaming buy irrespective of anything. The bottom may happen next week or the coming quarter, but when it happens, everything is going to rocket up to historical highs. And, the worst sectors — banks, power, real estate, oil & gas — will be the new best performers.”
There are reasons why we are not waiting for an end of the year Jan forecast, but starting right away to reinforce the last Jan’s bullish call.
Let’s first review what happened. Nifty did not make a low in the first few weeks of this year, but stretched the low well into Jun 2012. Since 2012 the prices have pushed up from 4,531 low in Dec, retested 4,800 in Jun 2012 and moved to the current high at 5,700 levels. Though the sub 4,500 buy levels never happened, the bull market case worked out well.
Now for those who still feel we are in a bearish market, let’s state some facts. First;
You can read the complete article in Business Standard

Mukul Pal, is a Chartered Market Technician, MBA Finance and a member of the reputed Market Technicians Association (MTA). He has more than a decade of Capital Market experience dealing with derivatives and global assets. He has worked for Bombay Stock  Exchange, multinational Banks and brokerage houses in leading research positions before starting on his own in 2005. He is the President of the MTA Central and Eastern European Chapter.