So, my predictions about the SENSEX are coming true.
If you read my blog posted on January 15, it was 14,200 then & I was skeptical, though people were gung-ho about it climbing to around 15,000+.
15,000+ ? Forget it….it started today from about 12,450…it has climbed some 150+ points, I believe.
But where does it leave us?
There was a steady erosion of 15%….and I wouldn’t be surprised if sometime in next 1-3 months it drops again by some 2000 points or more.
Right now, you have 3 major factors looming in front:
- Upcoming political instability after U.P. elections……UPA govt. is jittery.
- Globally “overheated” markets, FII’s might withdraw money in a jiffy.
- “Poor judgement” in lending by sub-prime brokers in the U.S., causing panic globally
