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Markets still uncertain........

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  • Markets still uncertain........

    There is no downtrend without a pullback and that's what happened today. The market recovered some ground after seven days of despair. The pullback rally lost some steam mid-session, but frontline indices managed to close with handy gains. The Nifty gained just over 30 points to close just above the 4,800 mark, while the Sensex ended the session at 16,065, up 120 points.
    Truth be told, the market had gotten very oversold — both equities and the foreign exchange. Therefore, a pullback was always going to be very technical in nature. Also, the market is very close to expiry, so maybe some of the shorts might have closed out as well and booked profits.
    The same set of stocks, which were beaten down most, gained today. Therefore, there was no great leadership in this “upmove” at all. So, everything that the screen is showing is suggestive of a technical respite to the one-way fall. Well, it might become more if global markets generate some positive newsflow.
    Unless there is some massive global event, can’t see how markets can turn the corner quite so easily.

  • #2
    Re: Markets still uncertain........

    I think this means that the rupee is under pressure.

    Oh no!! I'm already spending all of my spare time worrying about the slow unstoppable train crash across the Channel.

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    • #3
      Re: Markets still uncertain........

      yeah and the trend can continue for few coming days.....its fear of investor globally.

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      • #4
        Re: Markets still uncertain........

        Does it matter?

        "We get some kind of weather here every day" as the saying goes. And similarly with stockmarkets - they go up, they go down, they go sideways - and then they do so again in the same or different order, and always have. The market is always there.

        I long ago stopped fretting over whatever lengthy prognosis was offered on one page of a newspaper or investment magazine, because the next page so often gave an equally plausible opposite view.

        There are incoming waves even on an outgoing tide. I manage to always find between 10 and 20 stocks rising strongly enough to take advantage of, even when markets generally are ebbing.
        Please don't mess up my planet; it's the only one I've got.

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