1. Why am I extremely nervous about this market ? This was my POV which I had put forth on a fabulous discussion on CH on Thursday where I argued in front of a distinguished panel @anishteli @Prashanth_Krish @VohiCapital @lonelycrowd @deepakshenoy
2. I am putting this here on the request of some of my friends who missed the discussion. While all my distinguished panelists made several excellent points on the Bullish side, it was left to me to play the Devil's Advocate for most part of the time... alone. 😳
3. Today, a feeling of Deja vu prevails since situation similar to Dec'07 when India was the flavor of the season & was making newer highs whereas Global mkts led by US & Europe had topped out in Oct & China bubble had been pricked also around the same time.
4. While there was all round euphoria the FIIs were relentless sellers while the Non Institutional players were picking up the slack then as it is now
5. While the Nifty had hit 6k on Nov.1st '07 and was forming a toppish pattern between 6k & 6.3 k over the next several weeks, it was the midcaps & small caps which were where the Euphoria was.