In the last issue of MoneyLIFE (28 February 2008), this writer had argued that it was unlikely that the Sensex would fall below the 17,000-17,500 level on a weekly-closing basis in the extreme short term. For the week ended 15 February 2008, the index closed at 18,110, after giving another scare during the week – it had fallen sharply to an intra-week low of 16,608 on 12 February 2008....