This chart tells you everything you need to know about the opportunities that financial forecasting firm Elliott Wave International (EWI) sees in India's stock market:

• A multidecade bull market began in Indian stocks in the year 2003.
• Even in the depths of the 2008 financial crisis, EWI forecast that the bull market would continue.
• Its forecast has remained valid despite all the political volatility of the past six years in India. In other words, politics has in no way influenced EWI's analysis.

Most political commentators credit the recent surge in Indian stocks to the electoral victory in May by India's Bharatiya Janata Party and its charismatic new leader, Narendra Modi.

But Elliott Wave International looks at stock market trends from a different perspective: Its analysts believe that financial trends ebb and flow in waves.

You may have heard the term supercycle. It refers to a long-term boom in a financial market lasting at least several years and as long as several decades.

According to EWI's analysis, a supercycle began in Indian stocks in the late 1970s, when the BSE Sensex Index began. Within that long-term trend, a smaller boom (which they call a cycle) began in 2003 in India, paralleling similar booms in other emerging markets around the world.

The good news is that India's cycle bull market still has plenty of years ahead of it. In fact, EWI believes that the biggest opportunities in the cycle boom for Indian and international investors are happening right now.

Want to learn more details? Then you should read the special Interim Report that EWI's Asian analyst issued on March 23, 2009, to alert his subscribers to the "rewarding long-term opportunity" he foresaw in Indian stocks then. It's an excellent example of how their analysis can help you to see the bigger picture that those caught up in the news and politics often miss. It will also explain to you the cycle pattern that is driving India's bull market today -- and that will continue to do so for many years.

To get started reading the whole report now for free, all you have to do is become a Club EWI member. There are no strings attached. It's free for you to learn more about the amazing long-term opportunities in India that only the Wave Principle can help you to take advantage of.

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This article was syndicated by Elliott Wave International and was originally published under the headline India's Equity Bull Market: Who foresaw it in October 2008?. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.