Nifty peak at 9000?

[parimalborkar]

Hello Mani,
I happened to see your video today and immediately subscribed to your site, videos and even sent a request for your book.
In your video "Indian Stock Markets to Rally till 2015 - Next Nifty Peak around 9000 - bse2nse.com", U mentioned that next will be at around 9000 and nifty PE will be around 25.
Now Nifty is nearing 9000 and 23.1.2015 PE was 22.48.
Do we expect any fall in near future. Generally it is seen that whenever there is steep fall or major correction, it happens when everything in the market is extremely positive and there is no signs at all of any negative news. But I am a novice so can't comment much more than this.
Also nifty has left so many open gaps which are generally filled and the lowest gap is around 5460. So in worst case, is there any possibility that it can go to that level?
Could you please guide or discuss the future nifty possibilities.
Kind regards,
Parimal.

[mani.buzzingstocks]

Hi Parimal,

yes, Nifty at 9500 should be PE at 24 for nifty ... once we hit PE ratio of 24, typically within 3 months the fall or long term correction should start ....

Assuming Nifty hits a high of 10,000 ... I would expect a correction or fall towards 7000 by end of 2016 .... Which should be followed by a fresh cycle of bull run