Stay above 8467

Having gone through my charts once again, i can say with reasonable assurance that the bottom of 7697 will not be violated again. We are not yet out of the woods as far as the bear market is concerned but we are sowing the seeds for the next bull market to emerge by next year. The next bottom that we are going to make has to be above 8467 for this theory to hold good that the bear market phase is indeed coming to a close.Im waiting to observe any market corrections that might happen from here on to see if this sacrosanct level gets violated or whether the sensex would be able to hold its chin above the water. We might even consolidate between 8500-10000 for many months in the wake of negative news that might continue to make its way into the markets but the sensex must display resilience to stay above 8467 for long term funds to start buying india again.