And the market crashed......
Due to poor global clue, we could not sustained and continueous selling pressure seen across the mkt followed by heavy sell off by FIIs ( ₹ 4900 Crs).
Total sell comes to 43000 Crs in the month of may 22 which is highest figure in the last 24, months..
A horrible day, we saw today. Yesterday market was not showing such a bearishness. Dow and nasdeq affected global mkt. Nasdeq fell almost 30 % & Dow continued under selling pressure.
Inflation leads to interest hike and it's impact we see on capital mkts.
U S VIX shot up to 32.56 & india VIX also shot up to 24.55...very high.
It was a horrible day today that no trader could have managed his/ her position in favour of themselves.
Every rise was converted to sell off.
Clearly mentioned yesterday that mkt is in the Range of 15735 - 16400...& mkt gave confirmation to it.... Dow touched 52 week low, we are still safe due to retail participation via SIP in mutual fund... But big question is, how long we can support the market.... If redemption pressure occurs, DIIs have to withdraw money from the market...
A Dangerous thought disturb everyone.
It is being hammerd frequently to break the support, if it continues like this, I don't think that 15735 - 15690 lvl be sustained more.
Better to be away from the market for the time being.
Signing off for the day💐