What about unusual movement of yesterday? What fundamental reason can justify yesterday bull move? It did no correction. Just sharp bull move.
It has some impact on todays market too.
Or there were some fishy business yesterday by big shark of the market?
It has some impact on todays market too.
Or there were some fishy business yesterday by big shark of the market?
RBI did nothing to the market. RBI's intervention in currency market was known throughout the day. Then RBI credit policy came as expected. There was nothing unexpected in RBI policy . The market went up on announcement of the policy. But as the major hurdle was out of the way, the underlying trend re-surfaced. As traders we need to remember that market can reverse anytime and be prepared to reverse with the trend.
The panic was because in the morning many people bought but they did not liquidate when the market started crashing . If you see the VWAP of Nifty Futures, the difference was 125 points in the end. Which meant that lots of positions were made at higher prices.Bulls got frozen by the sudden reversal and they held on to their loosing positions till the end and in last few minutes all round panic set in.Some programmed selling , some margin selling....all added fuel to the fire.
Smart_trade
The panic was because in the morning many people bought but they did not liquidate when the market started crashing . If you see the VWAP of Nifty Futures, the difference was 125 points in the end. Which meant that lots of positions were made at higher prices.Bulls got frozen by the sudden reversal and they held on to their loosing positions till the end and in last few minutes all round panic set in.Some programmed selling , some margin selling....all added fuel to the fire.
Smart_trade