Bloodbath on Dalal Street: Is it time to book profits now?

Moneycontrol Bureau

It was bloodbath on Dalal Street. The Indian market corrected very sharply and witnessed its biggest fall in the last 16 sessions led by heavy sell-off in banks, metals, telecom and infrastructure stocks. The Nifty nosedived to 5,505 losing 101 points. The Sensex too shed 283 points to shut shop at 18,145. Although the correction was expected, after the recent run up, the quantum of fall has taken many experts by surprise.  Sudarshan Sukhani of s2analytics.com was not expecting such a sharp sell-off.