Since NSE self listed and its stock rallied heavily the market topped out. I wonder how many noticed this while international biz news was reporting on the sizable rally of NSE20 since 2012. Those rosy headlines always offer a solid bull trap. I'm yet to see sombre NSE headlines outlining a very pessimistic outlook. Usually happens during the capitulation or despair phase.
When the support at 4000 level is broken down the slide will not be gentle. The capitulation phase will likely pop up during that endless selling cycle as hope turns into despair. The sooner this triggers the better rather than being stuck in a hopeful slow motion slide (death by a thousand cuts).
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!