Look at any financial website / papers and there is euphoria all around ...
Cant figure out a rational reason other than that it is good to excite people, get more hits or sell copies.
what's the big deal about 7200 !! or any other number .
The market is selling at 14.3 times backward pe . If the economy does fairly ok , and the corporate profits continue to grow at 10-15 % , then some time in the future we could have the sensex touching 8000 and then maybe 8900 ...provided there is no major shock to the world economy / indian economy ... anyway how does it matter
well if the market was selling at say 20 times pe , then it would matter as i would start selling ..or if it was selling at say 10-11 times pe (like 2003 ) then it would matter ...as one can buy some very good companies at good prices ...but now we have pockets of overvaluation and to be fair pockets of undervaluation ...so it means more work ..
so i guess if the markets shoots to 8000 + soon or drops to 6000 types , then it is action time ...otherwise it is back to reading annual reports and better off watching the discovery channel
seems like a lot of noise ..but then what can once expect from the most of the financial media !!