5450 came on the Nifty and went. 5150 came and went. Even 5000 came and went. It was a day of high drama when stocks fell left, right and centre. Almost a knockout punch was levelled by the basket selling which came in today afternoon. According to information available, today's panic selling happened because of Margin calls. The exchanges called for margins and the brokers had to sell their leveraged positions forcibly to avoid having their terminals shut down.
In a sense, it is good that most of the poison has been spewn out of the system in one day ( I hope so). The faster this correction gets over, the faster we'll be back on our feet.
What a day! No cheers!