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Bears Occupy Dalal Street

April 2, 2007

The BSE Sensex opened 350 points down and their was a war between the Bulls and Bears. The Bears mercilessly hammered all the SENSEX stocks around 2:00PM and the Index slipped by another 150 points. Weak hearted bulls joined the bears and bought the index down by 615 points to 12,400 levels. Sensex suffered the worst intra-day debacle since 28 Feb ’07.

This was expected because of the surprise CRR hike by RBI on Friday evening. Auto, Banking, Real Estate stocks were the worst hit. It was no good a day for IT stocks too. Mindtree, Wipro, HCL-Tech and Infosys were all dumped by fund managers.

I recommend Long Term Investors to stay away from the market. Are you Fu&*ing crazy ? Yes I am Fu&*ing insane. Long Term investors, keep away as you will get Indian stocks at still cheaper valuations. SIP investors need not worry at all.

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