Indian stocks best performers across the world in 2009 so far but fibonacci retracement model indicate a massive bear market in front
Sonia Joshi
Jun. 28, 2009

Indian stocks have provided a return of 60 per cent year-to-date. It is by far the best performer from the low. It has outperformed all the developed world markets as the markets in the US and the UK gave returns of just 2.33 per cent and 10.17 per cent, respectively, so far this year. Among the emerging BRIC (Brazil, Russia, India and China) nations, the Brazilian market was the closest competitor with gains of 57 per cent till June 26 this year. The Chinese and the Russian markets have given returns of 37 per cent and 42 per cent, respectively, in the year so far.

But the econometric and fibonacci retracement models predict that a massive bear market may be in front. The Sensex, according to that model can dip below 3,000 in the next 12 months. That will more than 80% drop from the current levels.

According to many economic think-tanks, Indian economy is in the state of self denial. While the common people in the main streets are reporting severe downturns and heavy inflation, the Government after the recent reelection is completely out of touch.

Indian stocks best performers across the world in 2009 so far but fibonacci retracement model indicate a massive bear market in front
Sonia Joshi
...the econometric and fibonacci retracement models predict that a massive bear market may be in front. The Sensex, according to that model can dip below 3,000 in the next 12 months. That will more than 80% drop from the current levels.
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