Can SENSEX Cross 20k again?

When I wrote the below article few months back, many were saying Indian markets expensive. The SENSEX was at 15000 levels. Now SENSEX did 30% from those levels and crossed 20000 for a short while and now trading around 8% lower from the peak at 18750 levels. The PE for the SENSEX should be now around 23 times now ( I have not calculated the exact value). The SENSEX stocks are bound to grow at least 25-30% cumulative for next 3 years (I here advance tax collection up by 40%). This will take the SENSEX EPS to 1600 – 1800 range. Taking a low PE of 20, SENSEX should at least see 32000 mark. Taking a higher PE of 23 times on a higher growth and higher EPS target, SENSEX should see 41000 mark. This target is for next 3 years.