Sensex lost 5874 points from the top of 21206 made on 10.01.08 to 15332 today in just 8 trading sessions, in the History of Indian market this is a 1st, where is our dear finance minister who was worried of 1000 points rise in 10/15 days, today he is saying Indian economy is on track & Investors need not panic ???
Remember there are two gaps made on the downside which need to be filled sooner or later, 1st one is on 18930 & 2nd on 20203, the 1st gap will coincide with the fibonacci retracement level of 61.8% at 18980... So cheer up Bulls.
So they say FII's are selling causing the crash lets review last 2 days: yesterday FII sold 3300cr but M.funds mopped upto 3400crs still we landed deep in red, today FII sold 4265 cr in cash & M.funds bought 2778 crs but look at the Futures figures: FII today bought around 2825 cr nifty futures & around 5000 cr in stock futures, so hello, the blame game is not worth talking about.
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