sensex

sensex has corrected quite significantly ,which begets the question: has a medium term downtrend begun?i have been asked this most over the last one month or so

perhaps a C wave has begun ?

i have been off markets for last 45 days or more.so havenot looked at charts..

i am looking to get back to markets soon though not decided the time as yet since budget period is not the prettiest trading period.

further nifty is at levels where there has to be a bounce since 5350 levels shouldnot break in one or two go's.

but the day LIC HSG Fin and SBI's of the world reacted the way they did,it became very clear that banking index and financials which have really lead the way willnot do so anymore and rotation is now in order.LIC has almost halved from the peak price , which doesnot ordinarily happen in small corrective pattens..

so i will make an analysis maybe this weekend or arnd that time.

but whatever wave it is , the lows of the bear market will not be broken. sensex 14000 is just about the floor. so one shouldnot get overly excited about the C wave devastation!!

i ll post more accurate levels once i review the charts.