The past several trading sessions witnessed rampant selling in the markets causing Nifty
to dangerously test long term averages on the downside. Some of the sectoral indices
too have been hammered out of shape. Further, there seems to be no end to the woes
of the INR. No matter what measures are taken by the government or the RBI, the
continuing weakness in the INR just doesn't seem to abate. The general risk off in the
global environment too is further aggravating the bearishness.
Nifty is trading in an oversold zone. Therefore, going forward, a possible rebound can
not be ruled out. Lastly, no matter what, Nifty must hold above 5500. Nifty closing
below 5475 -- 5500 zone does not augur well.
to dangerously test long term averages on the downside. Some of the sectoral indices
too have been hammered out of shape. Further, there seems to be no end to the woes
of the INR. No matter what measures are taken by the government or the RBI, the
continuing weakness in the INR just doesn't seem to abate. The general risk off in the
global environment too is further aggravating the bearishness.
Nifty is trading in an oversold zone. Therefore, going forward, a possible rebound can
not be ruled out. Lastly, no matter what, Nifty must hold above 5500. Nifty closing
below 5475 -- 5500 zone does not augur well.
Rapidly trading in and out of stocks can potentially make an individual a lot of money.
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