In bull market there were happy to post message. In bear market everybody thinks correct news as fake news or even don't read any message because no money to buy and not ready to book loss.
So everybody on premature vacation or crying for miss delivery of vacation because of no profit.
It is very difficult to find out from this website where is the column for the discussion on the basis of secondary market scrips...atleast they have to blink the link in different colour to lure the investors.
The index made a strong bearish candle on the daily chart. Analysts said the ongoing correction may extend further. NEW DELHI: Sliding for the fourth session in a row, the Nifty50 hit a one-month low to settle below the 9,600 level on Friday. As selling pressure mounted, the bulls loosened their grip on the market.
This is evident from the fact that the same 50-pack index was at a kissing distance of 9,700 in the previous session and it could not even defend the 9,600 mark on Friday.
The index made a strong bearish candle on the daily chart. Analysts said the ongoing correction may extend further.
Chandan Taparia of Motilal Oswal Securities said the Nifty50 closed below its rising support trend line by connecting the lows of 9,075, 9,341 and 9,580 levels.
“The index is in a crucial zone. If it fails to surpass the 9,620 level and sustains below 9,550, it may confirm a double top formation, as it recently made two tops near the 9,700 mark,†Taparia said.
The index opened at 9,643. It only managed to rise a bit further before selling pressure set in. The index eventually settled 55.05 points, or 0.57 per cent, higher at 9,574. At this level, the index is well below its 20-day exponential moving average (EMA) at 9,594 level.
“The Nifty50 registered a solid bear candle as a followup to Thursday’s weak chart pattern, suggesting that the correction may last longer. It also breached the two-month-old ascending channel, which has opened up more downsides. However, more downsides can’t be expected immediately unless the critical support of 9,553 is breached on a closing basis. If this support was to go, the next target based on channel breakdown can be projected around the 9,351 level,†said Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory at Chartviewindia.in.
Mohammad advised traders to remain focused on stock-specific opportunities
Read Hindustan Times today on page 17 GST implementation key Inside A third factor spooking market is GST Kotak securities short term impact of GST could be negative. So be ready for market pain in short term
In bear market everybody thinks correct news as fake news or even don't read any message because no money to buy and not ready to book loss.
So everybody on premature vacation or crying for miss delivery of vacation because of no profit.