Was there amy bad news today? Why NIFTY lost 75 pts?

Hi guys,
Was there any bad news today? Why did NIFTY fall by 75 pts?

Note: I do not trade on news, but asking this for some other reason.

Thanks,
-Bunny.

I don't think any bad news hit the market and seems like a technical one (just my view) even favour news as the Central Government (Congress) winning in couple of state elections

I am still trying to figure out if market sentiments drives the media(news) or media(news) drive the market sentiments.

We have +ive or -ive negatives everyday.. but it depends on what type of news media is propogating on that day.

I am inclined to believe the market (and its player) know what has to be done.. and if mkt is going up, media will encash on all good news and start justifying the up move of market.
On the contrary, if market goes down, then media will change the headline and start telling the -ive news. I see it day-in and day-out how the headline on Reuter's/ yahoo finance/ bloomberg change from morning to evening depending on the direction of dow.
If mkt opens with gapup then it is because of expecation beating results from finance companies.. and if it corrects at the end, then it is concern about mounting losses on loan of same banks.

Now I really don't care for the headline.. but depend on my analysis from price chart.
In my view, globally mkt fell cause dow at 10k / S&P500 at 1100 has tick marked a big price level in peoples mind. That is also near 50% retracement of major fall..and market has given pretty good return, so any sensible trader will look at booking profit. If you want any other reason then it is october and date is >20.. the period which is notorious for shaking the market.

I 6th sense is telling me that any small -ive news can trigger sell off. And then media/analysts will collect reasons to justify the fall.

Cause people are on sideline and most of them are waiting for retracement / reversal.

I might be wrong.. but I struggle to find reason to be more bullish after mkt has gone up 100%.

Happy Trading.

Yes AW10, you are correct that media hunts for reason to justify when share price or index gains or looses. Markets affect the media, rather than media affecting the market.

I am asking this from an entirely different point of view. Since you are regular here, you may know that I don't trade on news or tips or trading advisory.

Thank you,
-Bunny.

AW10,Bunny,

Now the media hunt is so much it is easy to
FABRICATE the reason for the fall/rise of index
at 1530.But nobody dares to tell the direction
correctly at 0955.

Sometimes, market goes +ve or -ve after any good or bad news flash hits the market while on trading time like Inflation, Election Results, any big company news (like reliance, as we wait for some news in this issue and if it favour reliance, then it goes up and it doesn't will go down, simple because of the news)

So, because of some good or bad news also can hit the market strong, as we seen when congress won the parliament elections this year, no technicals works on that occasion.

Since nobody can predict the market the next day, we just can't blame the media.

Today I woke up and came to the market and at 955 I was worried about the overseas market and felt queasy about it and sold all my holdings
(Media: Market dips on Overseas cues). Then by 1030 I began to get hold of myself and looked out of my window and it had started raining. I felt a little cheerful and began to buy again.(Media: Market up on receding monsoon worries).

At 1130 my family returned from vegetable shopping and seeing the bill, I sold all me holding again. (Media: Market dips on Inflation concern). At around 1230 my cousin called me up to say he got a job. The news was good for me and I bought back all shares I had sold. (Media: Market up on Economic Recovery). After lunch at 1330, my friend called me up to say his loan had been rejected by the bank. This was rank bad news. I sold all me holding and shorted too. (Media: Market worry on tightening credit crashes Nifty).

By 1500 hours I felt tomorrow is another day and covered my shorts. (Market pares gains on short covering)

Please take a look at today's Nifty chart when you reading the above.

TT

At the end of the day the broker is profited enormously.

Yo!.

Good one man!.

I know Bunny, you are VSA trader. I also don't trade news.
But have been thinking for quite some time to develop strategy to trade news.

It is great contrarian indicator. We can easly predict how common man will react to the news and how, we as a trader should react to the price action. When so many people loose trading the news then someone out there is collecting this money. So why can't we join that group of collectors. And if you notice, then most of the people use CNBC as their entry setup and have no idea about the next step. It is easy money out there in the market to grab, and as a trader that is low risk entry for me.

It is just another crazy thoughts of mine.

Happy trading