Reason for Market Fall today

[adilsaleem]

Thursday, August 23, 2007 (Mumbai):

Markets saw a sharp drop earlier in the day shortly after an SMS began doing the rounds that the government would fall in 45 minutes.

Even though it is impossible to say whether the SMS lead to the fall in markets but the timing is surely the suspect. However, several brokers are blaming on the SMS for sharp fall in the markets.

The SMS claimed that the Left would withdraw support on Thursday and that the receiver of the SMS should check with his or her sources.

Some blame a fall of 150 points on this SMS but of course it is impossible to say if the SMS led to the crash. Sensex has touched a day low of 14,141 levels in the early deals.

courtesy: http://www.ndtvprofit.com/homepage/storybusinessnew.asp?template=&whichstory=n&id=40214

Any coments guys ?

 

[yoogi]

You are suggesting that many traders would fall victim to some false SMS?

Also note that market has not recovered fully even after 45 minutes.


It falls because of heightened volatility, may be one HNI or institution trying to liquidate a small part their holding. Then the trend followers jumb on it and zoom the fall out of proportion.

Aggressive buyers need to return for a sustained bull run.

 

[adilsaleem]

I am not saying anything, this is what the website of ndtvprofit is reporting. The market should not have fallen today considering china topping 5000, Nikkei up 450 points , Dow up last night and FTSE looking strong. Entire Asia and Europe are strong today.

 

[maxmak]

From the 2 Pillars of the Stock Markets.
Greed has taken a beating.
Fear is ruling.
No wonder one single SMS can shake confidence for a day.
It is Fear that rules the roost.
This is normal when there is uncertainity.
Hence it is adviced to be very careful.

 

[uasish]

In to-day' hourly chart it was evident,the Chart was unaware of the SMS's.

 

[amarnath]

Thursday, August 23, 2007 (Mumbai):

Markets saw a sharp drop earlier in the day shortly after an SMS began doing the rounds that the government would fall in 45 minutes.

Even though it is impossible to say whether the SMS lead to the fall in markets but the timing is surely the suspect. However, several brokers are blaming on the SMS for sharp fall in the markets.

The SMS claimed that the Left would withdraw support on Thursday and that the receiver of the SMS should check with his or her sources.

Some blame a fall of 150 points on this SMS but of course it is impossible to say if the SMS led to the crash. Sensex has touched a day low of 14,141 levels in the early deals.

courtesy: http://www.ndtvprofit.com/homepage/storybusinessnew.asp?template=&whichstory=n&id=40214

Any coments guys ?

Searching researching for drop or rise doesnt help a trader at all, it matter only were are you standing

 

[yoogi]

I am not saying anything, this is what the website of ndtvprofit is reporting. The market should not have fallen today considering china topping 5000, Nikkei up 450 points , Dow up last night and FTSE looking strong. Entire Asia and Europe are strong today.

Sorry for wrongly addressing. They are suggesting .. (NDTV)...

 

[Prabhjeet]

I think adeel may be right about sms rumour. big players are giving small investors last push so that they run away from market and big fish can have all the food
my prediction is that market will now start rising tomorrow or max from monday