So far NSE20 has tanked 18.76% from 5499 to 4467. If NSE20 slides to 4000 levels the current losses posted above will look very rosy! Despite the slide NSE20 is still in a correction pattern when measured from the year open level. If the index bleeds towards 4000, then the bear will be reigning in town.
Exercise caution and cherry pick valuable counters as the market resets the previous irrational bullish period.
And this is not exactly 2011 macro environment.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!