Yesterday at India Equity Show, India’s top Technical analyst predicted Sensex to come down to as low as 9800. This he says is 55% retracement from top level, which happens every 8 years. This happened in year 1992 and year 2000. Sensex breached support of 15800 and went below the channel and can test base line of the 8 year cycle.
Realty stocks will correct by 90% from Top. Adlabs, Videocon, Rel. Capital and JP Associates have formed mountain shape on charts and will correct by 90% from Top, he says. Bearish phase will last from 13 months to 3 years. Pharma, IT and FMCG, which did not participate in bull run, will be the leading sectors in bearish phase.
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Moneycontrol 
