A trader points to data displayed on a computer screen. (Photographer: Hannelore Foerster/Bloomberg)
The Nifty had one of the sharpest rallies seen in recent times, and there is no denying the fact that the sharpness of the run of the past two weeks certainly caught people by surprise. Most were willing to concede a rally till around 17,500 or so. Even those that traded bullish were willing to bail out as the index went higher. It hit past the 62% retracement and almost made it to the doorstep of 18,000. Suddenly, there were calls g...