"I feel that some of the stock prices shows irrational exuberance so I predict correction in Sensex from 20500 levels to 19000 to 19300 levels for Jan 08. If at all the bull rally continues, it will have resistance at 20800 levels for Jan 08." - I have written this as part of outlook for Jan 08.
As expected and predicted, market came down and recovered from today's low of 19650 levels to 19900 levels as of now.
I strongly feel, de-coupling with global market would happen shortly when the earnings comes out in full swing from today onwards to Jan 26th or so. Buy on declines and keep an eye on markets until budget. Volatile days are ahead.
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