@ sr114:
please read the following article at : http://www.moneycontrol.com/news/ma...emkay-rs-51-crtalksbrokers_765857.html#toptag
I am highlighting some lines from that article :
"why did the Nifty index plunge 15% uninterrupted (over the previous close) on Friday when the system is supposed to shut down at the first 10% fall/rise. In the past, trading was halted on four occasions (2004, 2006, 2007, 2008) during a steep crash, and on each of these occasions, the circuit filter was triggered at a 10% drop. Trading is resumed after an hour in such cases, and if the index rises/falls another 5%, market is shut for the rest of the day."
sr114, you were trying to act over-smart, pretending that I don't have any knowledge of how circuit filters works. I never ever judged u , but the fact was that the drop was sudden and it was 162 points below or 15.29% drop - where it occurred - in NSE Spot, SBIN, RIL, ICICI Bank, HDFC and what were sparred - NSE Nifty FUTURES - no such drop in that counterYou were showing reasons like drop bypassed 10% and was asking me to look at the charts. My question was that why the 10% circuit filter was not able to stop NIFTY from dropping below -10% ?? The duty of circuit filters are to halt trading immediately, and these are special circuit breakers i.e. these type of circuit breakers when triggered brings a Market-wide trading halt across all the equity exchanges. As per NSE website, "The market-wide circuit breakers are triggered by movement of either the BSE Sensex or the NSE S&P CNX Nifty, whichever is breached earlier."
Please don't get me wrong, I am just trying to point out the right thing. I don't have any personal cold war against you. We all are friends here in TJ. I am just pointing out how NSE is just making fool of us. So take a look at the quoted lines below:
"there were no signs of a broad market panic, why were these players allowed to put such bids. Did they really think they could buy stocks like Reliance, HUL and Bharti 20% below the previous day"
I understand that it is not fair to discuss these kind of things in Zerodha's thread. Moderators forgive me for that.
please read the following article at : http://www.moneycontrol.com/news/ma...emkay-rs-51-crtalksbrokers_765857.html#toptag
I am highlighting some lines from that article :
"why did the Nifty index plunge 15% uninterrupted (over the previous close) on Friday when the system is supposed to shut down at the first 10% fall/rise. In the past, trading was halted on four occasions (2004, 2006, 2007, 2008) during a steep crash, and on each of these occasions, the circuit filter was triggered at a 10% drop. Trading is resumed after an hour in such cases, and if the index rises/falls another 5%, market is shut for the rest of the day."
sr114, you were trying to act over-smart, pretending that I don't have any knowledge of how circuit filters works. I never ever judged u , but the fact was that the drop was sudden and it was 162 points below or 15.29% drop - where it occurred - in NSE Spot, SBIN, RIL, ICICI Bank, HDFC and what were sparred - NSE Nifty FUTURES - no such drop in that counterYou were showing reasons like drop bypassed 10% and was asking me to look at the charts. My question was that why the 10% circuit filter was not able to stop NIFTY from dropping below -10% ?? The duty of circuit filters are to halt trading immediately, and these are special circuit breakers i.e. these type of circuit breakers when triggered brings a Market-wide trading halt across all the equity exchanges. As per NSE website, "The market-wide circuit breakers are triggered by movement of either the BSE Sensex or the NSE S&P CNX Nifty, whichever is breached earlier."
Please don't get me wrong, I am just trying to point out the right thing. I don't have any personal cold war against you. We all are friends here in TJ. I am just pointing out how NSE is just making fool of us. So take a look at the quoted lines below:
"there were no signs of a broad market panic, why were these players allowed to put such bids. Did they really think they could buy stocks like Reliance, HUL and Bharti 20% below the previous day"
I understand that it is not fair to discuss these kind of things in Zerodha's thread. Moderators forgive me for that.
also i am not waging any cold or hot war - i am a small trader who try to figure the scenerio thru the charts - may be this is my fault. and i am ready to commit this fault again. and i responded to ur post to highlight the drop - not the cause of it.
look at them
1. nse spot daily
2. nse spot 05/10/2012 intraday
3. nifty futures intraday
4. icicibank 05/10/2012
5. sbin 05/10/2012 ( along the quote editor )
6. ril 05/10/2012
sr
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