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Sensex below 8700 – headed towards 2000
Bharat Subramanium
Nov. 20, 2008
The stock market is tumbling right now. The bulls are losing grip of the markets in near term. The pattern indicated a strong bull shakeout. The fundamentals driven bear market is a long term bull killer.
The market internals indicate a higher turnover as participation levels rose due to the weakness. The number of trades rose and the average ticket size was higher, indicating a higher selling bias. The capitalization was lower in line with a downtick session.
Things are getting grimmer. The downward bottom is not at sight. According to econometric and analytic models, the Sensex is headed below 2000.
The technical trade pattern confirms the mega bear market.
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