Daily Big Picture – Benchmark Indices Extend Highs; Investors Await RBI Policy Outcome

MarketSmithIndia-WilliamOneilIndia

Today’s Action:

The Nifty and the Sensex gain to record fresh highs. Broader markets outperform major composites.

Daily Market Review

The benchmark indices started the day on a flat note and gained momentum as the session progressed. Despite a few dips in the mid-session, both the Sensex and the Nifty managed to end the day with decent gains. These gains enabled the key indices to extend their all-time highs.

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Distribution Days Come In Different Shapes and Sizes

Distribution Days Come In Different Shapes and Sizes - MarketSmith India

“The market isn’t easy – it doesn’t wait until everyone is ready, prepared and certain.” – William J. O’Neil, MarketSmith Founder

MarketSmith India readers have heard or read the term “distribution” at MSI workshops, or inside the pages of the Weekly Big Picture.

It is synonymous with institutional selling, whether it is in an individual stock or a major stock index. Big downside moves in explosive volumes are the clearest signs of a distribution, a sign that mutual funds, hedge funds, banks, and insurance companies are unloading shares.

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