Pithaly

It's interesting to read history. Here is what three of India's top technical analysts had to say in January 2008 (!!)

If what they claim to be true technical analysis, then history has proved it so terribly wrong, should the entire method needs to be thrown into the sea?

Not really. The fact is that it is very difficult to have a foresight on turning points in markets as well as in history, by mere procedural analysis. The emtire process is a combination of fundamentals, technicals and human behavior all rolled into one, finally creating ONE insight.

What did I say in October?

"The sensex has peaked and will crash in January 2008."

And this is what I'm saying now.

"The sensex will bottom out in September 2008, albeit with some bear rallys in between".

Read...!!

"How will 2008 be? To know what the charts indicate, The Smart Investor gets three technical analysts to predict what's in store for the current year. Neowave analyst Milind Karandikar, stock market consultant and analyst Devangshu Datta and Orpheus Capitals CEO Mukul Pal predict the market in 2008. Read on to know more. . . "


1. Milind Karandikar

January 07, 2008

This puts the Sensex target at around 27,000 mark. The breakout could be as big as 2.618 times the largest leg, leading to a mind boggling figure of 39,000. Even if we keep aside this over-optimistic view, the target of 27,000 could be achieved and that too most probably in the first half of 2008. ......

2. Devangshu Datta

January 07, 2008

Summing up, the first eight months of 2008 should be positive, and there's no technical signals suggesting that the market is due for a major correction. Intermediate corrections should find support and peter out around 5,600 levels. Breadth looks good and relatively smaller stocks could outperform. ......

3. Mukul Pal

January 07, 2008

After Sensex 20,000, the market expectations are for 30,000, but I don't see the Sensex extending beyond 24,000 this year with the benchmark making a decade high this year.
This year, the BSE Capital Goods index should move its last leg up to complete the cycle trend the sector started in 2002. The index should complete the last leg up from current 20,000 levels to 25,000. ......

To read the complete article, visit:

http://ia.rediff.com/money/2008/jan/07bspec.htm

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