There are certain characteristics of the markets that take place almost all the time, when the indexes are about to approach an intermediate or long-term top or long term bottom. In order of importance, this is what you have to look at to identify market tops.
- Time
- Sentiment
- Market Breadth
- Price patterns
- Valuations
- Time Profiles: Major tops/bottom are made after the markets have been going up/down for an extended long period of Time. Indian Market follow the 8 year cycle , Major Tops are formed after 8 year, 1992,2000,2008 have been the major tops in Indian market. We have formed a Major Top is March 2015 @9119 from where we have corrected till 7400 a correction of almost 20%. Any market which corrects more than 20% is technically in Bear market. But time alone will not give you the sufficient information you need to identify market tops/bottom. All of the key identities must be in place at or near major market tops/bottom.
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