Sensex moves down with a sharp reversal ready for the next leg of the bear market
Preeti Singhani
Feb. 18, 2008

At the beginning of the day, the Sensex opened with a positive gap of 113 points at 18,228, and touched a high of 18,257. It could not hold gains as profit taking at higher levels saw the index slip into negative zone.

Sensex dropped to a low of 17,901 - down 356 points from the day's high - in mid-noon trades. Out of 2,772 stocks traded, 1,848 advanced and 874 declined.

The index had gained around 1,500 points in the last three trading days last week – a clear indication of a bear market rally.

The next leg of the bear market is here. It can be real nasty since it will the start of the third major bear leg.

Sensex moves down with a sharp reversal ready for the next leg of the bear market
Preeti Singhani
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