Sensex moving higher in bear market rally – up 161 points and may test 17,000 before moving below 9,000
Kirsten McLauren
Mar. 19, 2008

Worldwide stock markets are in a bear market rally. The bear markets are always very sharp in moving up because of short covering panic. This one can take Sensex back to 17,000 or even higher, After several months Sensex will reverse the trend and will sink below 9,000.

The Sensex opened with a bang at 15,326 - up 493 points - on positive cues from the global markets after the US Fed cut interest rates by 75 basis points. The index touched a high of 15,467 in opening trades.

Profit-taking saw the index pare gains as the day progressed, and dropped to a low of 14,930 - down 537 points from the day's high in late noon trades. The Sensex finally ended with a gain of 161 points at 14,995.

The rally should be used to distribute the long positions. Short term hedged long side trading can be profitable with higher risk reward ratio.

Sensex moving higher in bear market rally – up 161 points and may test 17,000 before moving below 9,000
Kirsten McLauren
Worldwide stock markets are in a bear market rally. The bear markets are always very sharp in moving up because of short covering panic. This one can take Sensex back to 17,000 or even higher....
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