Here is what I had written back then:-
- Sensex/Nifty will make a dash for the all-time high sometime soon (maybe as early as October end)
- Either breach it or turn back just short of it.
- A bout of profit booking follows. Indices go down 10%-15% (back to around 18K-18.5K)
- Main indices remain sideways for the next couple of quarters.
- Mid caps move up from now as the last few weeks the valuation gap has widened.
- Sometime after 2-3 quarters, the next up move starts for the main indices. By that time, PE is down to about 22 (which is still high but certainly not hitting the roof).