Review :How good was our May 2007 Sensex-Nifty prediction

Against the backdrop of historically bad month of May and with key corporate results out of way, for month of May 2007 we predicted based on Tarot cards

"Prediction: In May market will be volatile and unlike April no sustained rise or fall is seen. Volatility will be more marked from mid may onwards. However the sensex could see net gains for this month and one may be left wondering why the market have risen ( in absence of great specific news).Strategy for short term traders :Traders and short term investors should take advantage of directional changes. Around Mid may after the market has seen good gains, it may time to go short( sell). Sharp fall which is possible in second half of month ( approx 15-21 may) will be followed by quick equally good rise hence an opportunity to buy again for trading purposes.Perhaps the best thing about Month of May will be that negative view associated with this month ( particularly after what happened in last two years) will become diminished if not reversed even though volatility in second half of month is likely to be high."

Review of May 2007 Prediction: May 2007 prediction turned out to be good in many respects with May registering net gains mostly by mid phase of the month and even exceeded our expectations.Secondly sharp correction and sharp pull back and implied volatility occurred shortly after May 21.

Coming soon : Prediction for June 2007, For week June 4-8,2007 and IFCI prediction for June 2007