Markets were highly volatile with NIFTY reaching below 5000 for the first time since February this year. Several stops were triggered, those who traded with strict discipline would have got out into safety. While impulsive trades would rejoice that they have had a good recovery in prices after they briefly tested past support and stop losses. It is this false courage that makes them repeat the same mistakes later and get their accounts burned out. It always pays to have a disciplined approach in the markets. No one knows what is in store ahead of us, to protect us from any adversities we need rules and we have to follow them strictly.
The rebound in prices was pretty sharp, does it have any value in it? Will the markets rally from here? Chances are very much bleak. Our New High New Low index has hit a fresh low, 6 stocks had new highs while 51 stocks recorded new lows. An indication that the bear massacre is not yet over, there is some more stampede likely to come. The industries that got affected are rewarded in the volatility are Reality, General Finance and Fertilizer. Pharma and Software had both new high and new lows in their group.
TECHM has a good long trade option with about 4 time reward to risk, please check our calls sections for details.
Happy trading.
The rebound in prices was pretty sharp, does it have any value in it? Will the markets rally from here? Chances are very much bleak. Our New High New Low index has hit a fresh low, 6 stocks had new highs while 51 stocks recorded new lows. An indication that the bear massacre is not yet over, there is some more stampede likely to come. The industries that got affected are rewarded in the volatility are Reality, General Finance and Fertilizer. Pharma and Software had both new high and new lows in their group.
TECHM has a good long trade option with about 4 time reward to risk, please check our calls sections for details.
Happy trading.
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