General Trading Chat

sridhga

Well-Known Member
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Today's Nifty action was quite interesting. Despite the big gap down, it found support right at the bottom of the intraday Fibonacci zone around 10200 from where it rallied to the next intermediate level. There seem to be a lot of buyers at the 10200 level View attachment 29443
I remember Nifty giving a similar fight for 10850 levels.
 
Maybe at EOD you can kindly explain why the bottom is still not in place.
Reasons :

1) The market needs to do time correction and price correction both....though price correction is done, time correction is still balance. Nifty will spend some more time in correction.
2) There are dark clouds on the horizon ...clouds such as crude price,currency, US trade wars.....
3) We are nearing election and the election worry is yet to factor in the prices.This election is likely to be the dirtiest in the country's political history.
4) Investors are bottom fishing...we need a atmosphere of total dispair and everyone should feel that this market is finished and will never come up...that dispair is still not seen.
5) Corporate growth is still not seen ...hopefully this quarter we will see growth else the correction will be longer in time.
6) Market will test bottom multiple times.
7) Markets will undershoot on downside also as they do on the upside.....

Smart_trade
 

vivektrader

In persuit of financial independence.
Reasons :

1) The market needs to do time correction and price correction both....though price correction is done, time correction is still balance. Nifty will spend some more time in correction.
2) There are dark clouds on the horizon ...clouds such as crude price,currency, US trade wars.....
3) We are nearing election and the election worry is yet to factor in the prices.This election is likely to be the dirtiest in the country's political history.
4) Investors are bottom fishing...we need a atmosphere of total dispair and everyone should feel that this market is finished and will never come up...that dispair is still not seen.
5) Corporate growth is still not seen ...hopefully this quarter we will see growth else the correction will be longer in time.
6) Market will test bottom multiple times.
7) Markets will undershoot on downside also as they do on the upside.....

Smart_trade
After reading these reasons, I feel Nifty will go to 8000, hope that doesn't happen.

Vivek
 
Reasons :

3) We are nearing election and the election worry is yet to factor in the prices.This election is likely to be the dirtiest in the country's political history.

5) Corporate growth is still not seen ...hopefully this quarter we will see growth else the correction will be longer in time.
6) Market will test bottom multiple times.
7) Markets will undershoot on downside also as they do on the upside.....

Smart_trade
Goodness !!! Election worry not yet factored in ??? That may turn out to be the grandfather of all volatilities.
 
Goodness !!! Election worry not yet factored in ??? That may turn out to be the grandfather of all volatilities.
NDA getting less number of seats is factored but some more possibilities are still not factored in my view....so it depends on how the end game is played by the parties...

Smart_trade
 
this bear run will last longer and we could see 2017 or may be 2016 levels for many stocks (e.g. SBI 160 ish, HDFCbank 1300 ish). I have seen 2008 crash although not as trader. I could just sense that things are similar this time too.
Are there any reasons for you sensing such downside Siddhant sir? Aside from factors mentioned by ST ji.
 

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