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Here Is What Peter Brandt Has To Say About Indian Market

Peter Brandt, chief executive of Factor LLC, has predicted the Nifty will test 11,180 by the third quarter of 2018. In an interview with ET, Colorado-based Brandt, considered to be among the world’s top chartists, said a fall in the Indian market will be a wonderful opportunity to buy.

I have been constructive on the Nifty since December 2013. I now have a target on the Nifty of 11,180. We will probably see that in the third quarter of 2018. The S&P CNX 500 will probably go to 15,000 and I am looking for the BSE Sensex to go to 35,200. Whenever we get volatility in the western stock indexes, India just ignores the volatility to some degree. We had a break in the Nifty between March 2015 and March 2016, when we saw a one year correction, but we are definitely now back on track.

Look what he has to say about the concern that Indian markets are over-bought

We haven’t had a rip-roaring bull market in India. It has been an orderly market that has tended to be self-correcting on the way. Certainly, we could see come correction. We have had corrections in 2015 through till the end of February 2016. We had a correction that started at the end of September 2016 and ran through end of December 2016. Historically, bull markets get overbought and they remain overbought.

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