Based on my Technical Analysis of the Stock Markets I feel the Nifty and BSE Sensex is in a cyclical bear phase and after the January 2008 heights (20,000 + levels on the BSE Sensex) we have touched sub 15,000 levels on the Sensex in June 2008. But I think the retracement is not done with yet.
I feel the Sensex might go down to 10,000 levels in the near term to finish this retracement. The best place to invest in this scenario is undoubtedly OIL ( THE UGLY 3 LETTER WORD)…as the relentless bull run in OIL (read bubble) might well continue to take it to dizzy heights, and anything between USD 100 to USD 150 per barrel is very much possible..
So take your bets and play on….
C Ya Soon 🙂
Group CEO, MD
Ascent Group Of Companies