Look at the peaks - Jan 2000, then Jan 2004, then Jan 2008. The next one came an year early in 4Q10 but the one after that again in 4 years - Jan 2015. The next peak at Jan2019 looks feasible. The chart has just crossed the 1.61 fibonacci extension with a strong green candle . Whenever it crosses a fibonacci level with a strong green candle - it is poised to go higher. Talk of overvaluation has already been going on but the bullish crossover of 1.61 extension level makes me feel we have another 10 months of rally left
Comment:
In case the market starts correcting in Feb then it can down to 8800 levels by year end . Do watch the BSE chart in tandem to determine market movement
