Daily Big Picture – Market in Dire Straits; Nifty Gets Closer to the 200-DMA

Today’s Action:

Selling streak extends to six sessions; Nifty, Sensex likely to test 200-day lines soon.

Daily Market Review:

Just like a critical patient struggling from a life-threatening disease in an ICU, the Indian market condition has been getting worse with every passing day.

The Indian equities have been way too ruthless in recent times, with almost each trading session rubbing salt on wounds of millions of investors. Continue reading “Daily Big Picture – Market in Dire Straits; Nifty Gets Closer to the 200-DMA”

Daily Big Picture – Market Bites the Bullet; Goes Into Downtrend

Daily Big Picture

Today’s Action:

Nifty, Sensex correct over 1%; slip into Downtrend for first time since demonetisation.

 

Daily Market Review

Strength begets strength, weakness begets weakness.

The second part of the above sentence seems totally apt, when it comes to the Indian market’s present condition.

Bears gained complete control over Dalal Street, as key indices went downhill for the fifth session in a row. With both the Sensex and Nifty tumbling over a percent each, previous support levels got breached in the process.

Continue reading “Daily Big Picture – Market Bites the Bullet; Goes Into Downtrend”