The When, How and What of Stock Investments
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Daily Big Picture:Market Prediction Today as Nifty Stages a Downside Reversal
Today’s Action
Nifty, -4%; Sensex, -4.1%; Nifty Midcap, -2%; Nifty Smallcap, -1.5%; Model Portfolio, 0%
Daily Market Review
Market Pulse: Confirmed Uptrend
Nifty staged a downside reversal closing near the lows but on a lower volume. Nifty Bank and IT saw high selling pressure. Yesterday, volume and percentage gains met our threshold. Hence, we considered it as a follow-through day and upgraded the market to a Confirmed Uptrend. However, we didn’t add any stocks to our portfolio and asked investors to be careful if they take any fresh position as follow-through days after such sharp and dramatic correction can fail and more time should be given to the market to prove its strength.
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