Sensex at 11000, bear rally nearing end, get ready for Sensex’s next stop below 4,000
Shekhar Pundit
Apr. 19, 2009

The Sensex had its run taking the clue from American and European stock markets. The bear market rally is coming to an end. It is time to take profit and sell short the India Inc. The Indian stock market has performed worst in the whole world competing with that of Russia on the downside.

Sensex can fall below 4,000 this year. India faces a deep depression because of India’s rich trader class. They control the Government, the Indian economy, the lives of common Indian people. The darkness of economic gloom will reach the Indian main streets this time as India faces the third wave down in Elliot wave cycle.

India’s biggest problem is private debt as a function of income. The income will fall rapidly; the real estate will crash like never before. The other major problem is terrorism from Pakistan, and Bangladesh. The Islamic hardcore Taliban is gaining control in Bangladesh and Pakistan. They want to terrify Indian streets just like they did in Mumbai. The hidden terror cells went underground waiting for flash point orders from their Islamic terror leaders.

India also faces some uncertainty in agriculture. The oil price has fallen, but internally native Indians do not see any relief. The Government is eating up the difference between international oil price and local escalated price levels.

Chinese and Indian economies have gained some strength due to internal stimulus packages. But soon the reality will hit the ground. Fact of the matter is Indian budget and trade deficit is out of control. People do not have any health insurance. The Congress party (ruling party) did nothing to create a safety net for the poor and helpless. They just served the rich and powerful including American and Western oligarchs.

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