Friday, July 4, 2008

Mark Faber predicts Sensex below 10k levels

Just saw y'day the interview of Marc Faber on cnbc awaaz. He predicted Sensex below 10000 levels. I wonder how he is making this silly predictions. One thing is for sure that market sentiment is very bad at the moment and with such foolish predictions he wants indian investors to get out of market by selling their stocks in cheap.

I only see this prediction as a strategy to create more panic in the market and intent to pick cheap stocks in the indian market. Few months ago when global stock markets were booming and we were at 21k levels. That time he predicted that sensex will reach at 12k levels. Everyone agrees that what mark faber told came true, But had anyone seen reasons which he gave for prediction of sensex at 12k levels and which are the reasons at the moment for sensex at 12k?

Once again i m requesting every indian investor to keep patience and dont get driven by such panic creators or any panicking news. Indian economy is booming and will continue to do so.

Currently we are growing at 8% to 8.5% and it is predicted that our growth will slow down due to high inflation and high crude prices. As per newer predictions we will grow with 6% to 7% growth rate, thats not still bad compared to growth rate of U.S.A and other developed economies.