What a Worst day it was... After March 2020, we saw a huge sell off across the day & never turned to green territory... A horrible fall it was...!
Bank Nifty was under pressure followed by poor results by PNB, all psu banks selling off and no it was searching a bottom to settle down. Bnf was Hugly underperformed as it was highly supportive to nifty.
We back again at the bottom of 8 th march.. the last bottom was firmed 15691..today Nifty tried to kiss this bottom but missed by 40 - 45 points.
Whether it may formed double bottom pattern or break this lvl to kiss 15k. Time will tell us. It may correct once then fall down or sustain to little move upside... DIIs tried to support the market but all vanished due to heavy sell off by FIIs. Their Net sell in may comes to 32000 k.
Traders also under perforrmer, they are also not making money. May series started with 17400 & within 9 trading sessions, nifty fell by nearly 10 % till date....
I used to say to be away from the mkt since long to keep your capital intact.
Investors are wimsy. They don't know what to do...! If you want to invest just begin with 10-15 % of your corpus in niftybees, bankbees and junior bees rather than perticular stock... You can check with your financial Advisor.
High inflation and low iip data leads to sell off. Less growth , high Inflation Can't push Capital Market up. All bluechip stocks are weak and no buyers seen at this lvl too... Tommorow is a Friday and if today's low is being broken, we will move to southward more aggressively.
Not a good mkt to tape. Be silent.
Wait and watch from gallary.. The only tip to protect ourselves. Siging off for the day with a cool mind to think properly 💐