In my last piece, I had warned that severe volatility was round the corner. While we were witnessing huge intraday volatility last month, the market was not really going anywhere on a daily-closing basis. Even on a weekly basis, it had hardly budged till the day the Budget was presented. By the end of the Budget week, the Sensex was up by 230 points and Nifty by 113 points. However, the market...