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Sensex Rocks and Rolls back below 10000 yet again…8k soon ?

Inside days there was a huge 3000 points or 40%  bounce back from a 52 week Sensex intra-day Low of 7697 on October 27,2008…Leading the way was Reliance which was perilously close to falling below 1000 but bounced back to 1400…it’s slipped back to below 1200 inside two days

An earlier blog warned that such rallies are deceptive when fundamentals really are expected to be tested even further in the coming quarters…these rallies happen because of technical reasons of significant short coverings of the very high level of over Rs 10000 crs of effectively Short Sales position build up by FIIs  

Methinks Sensex will again test 8000 levels soon on the downside.Look to buy in then


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