Mark Galasiewski: India Sensex Target 1 Lakh

Sensex Target 2017

Introduction:

Recently, Mark Galasiewski from Elliott Wave International forecasted Indian markets and gave a Sensex target. In this post, we will discuss Mark Galasiewski India Forecast and his views on the long-term uptrend in the Indian markets.

Mark Galasiewski India

Elliott Wave Theory and Indian Markets:

According to Elliott wave theory, both the Sensex and Nifty are in a long-term uptrend. The Sensex uptrend started in 1979 and has followed a single support line. This market is currently above the support trend line, and the support is very strong. From the perspective of the daily wave, the advance in the markets since 1979 is a supercycle advance, and we are now in the sweet spot of the advance. Indian markets are also in the sweet spot of the slower degree advance that has started since 2008 lows.

Investment Opportunities in Indian Markets according to Mark Galasiewski:

Mark Galasiewski thinks that this is an excellent time to invest in Indian markets as all the cycles are favoring this bull run. Currently, 85% of investments have come from 85 major cities, but the past few years have seen that this investment is diversifying into smaller towns too. This denotes that we are perfectly in the third of the third leg of advance. Therefore, Mark Galasiewski thinks that this is the best time to invest in India as the long-term uptrend is going to last for several more years before the Sensex target hits.

Sensex Target

In 2009 Mark Galasiewski forecasted Sensex’s target of 1 lac by 2024. So it was a 15 years forecast, and he still sticks to that forecast. Since 2009, Sensex and Nifty have tripled, and now Mark Galasiewski India’s forecast is they will once again more than triple in the coming years.

Mark Galasiewski’s Forecast for India’s Midcap and Small-Cap Indices:

Mark Galasiewski also sees that the midcap and small-cap indices have taken off, and the rate of change is greater than the general indices. This is a strong sign that we are in the third of the third wave. Mark sees that the Infra Tech sector is underperforming, but there is little downside left. So he feels that this sector can be a safe bet.

Conclusion:

Summing up, Mark Galasiewski India Forecast and the opportunities for investment in the Indian markets are significant. The third wave can offer excellent investment opportunities for the next year. This third wave is almost a year old, but it can last for another year. This can give investors plenty of time to reap the benefits. Overall, Mark Galasiewski’s forecast for the Sensex target at 1 lakh is bold. But, with the current trends and cycles in favor of Indian markets, it’s not entirely impossible.


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