Nifty Today: “Todun Taak” - 14 Feb’22
Nifty View: Significant fall for the Indian equity markets in today's session, the benchmark Nifty index loses more than 500 points to post a close at 16,809. The short-term trend of the index is now down again, and considering the momentum with which the index corrected today, it is very likely that the selling will extend further this week. Today's close across most of the sectoral indices and most of the large-cap stocks were pretty weak, near the lowest point of the day, and so it will be prudent to wait out a few days for the selling to slow down and then try to attempt any long trades, if at all.
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Selloff
Mentorship InstaView 20 Sept’21: For Bulls its Time to Slow Down
Nifty View: A sharp sell-off for the benchmark Nifty index in today’s trading session - down over 200 points to post a close at 17,386. With this fall, the short term trend is now on the verge of a reversal on the downside. Considering the nature of today’s fall, that is, both sectoral participation and momentum, it’ll be prudent to wait out for few more trading sessions to check if the index has more correction in store. The short term supports are nearby 17,300 and we can expect a short term bounce from close to this level. But it’ll be the next movement which define the overall trend of the index from a medium term perspective. Watch the video for a much detailed index and sectoral analysis.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.