new update: sunday, april 16th 2006, 11:20 pm..
POST CANCELLED AND WITHDRAWN.
After doing some more carefull analysis over weekend I choose to cancel and with-draw this post.
Would post a different view sometime soon and it would have a more "negative" view.
I am sorry for this 14400 post and here is a promise to post more carefully in future and not to post in haste.
This is a semi serious post ... and directly conflicts with previous ones..
Next target for sensex is in the range of 14400 to 14500 .
The IDEA is that the indian mkt is a phase of serious extensions in the 5th wave up from 4600 area. The 5th wave which started from 4600 in sensex is already extended and the 5th of the 5th is super-extending. (pardon me for this ..!! :p )
Confirmatory trigger: The target gets more credence when sensex crosses 12000.
(Making new high in more style and more speed than the dump.)
Failure Scenario: Sensex under 10500 would mean this idea is wrong.
So we donot have to wait a lot to find out.
Time Frame to target: Max 4-6 months (mostly under 4 months)
AfterEffect: This super display of firepower would suck in even the last suckers (read MF's) and the dump which follows would feel equally more astonishing.
Donot get overly excited with this.
Donot Base your investments on this.
Treat this post just as an educative one.