The Nifty hits close to its lowest in 2015, with 8000 acting as a technical barrier on the way down. 2015 has now seen a big upcycle in Jan and Feb, and then a shift to a downtrend. We have now had five continuous down days. We have been saying in Capital Mind Premium that stocks have been overvalued for a long time, and that a correction isn’t going to be a surprise. The question now is: will we continue the downslide or does some kind of panic support kick in here? Note that this time around, we aren’t seeing big volumes on the downside . Panic, which usually means the big part of the downside is over, is accompanied by large volumes. We could see a lot more, even through, in industry parlance, “ thoda to bounce banta hai “. (Meaning: at least a small bounce should happen)) 2015’s back to square zero.… (Read On…)
[via Capital MindCapital Mind]
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