Daily Big Picture: As Nifty continues to decline, what does the future have in store?

Today’s Action

Nifty, -2.4%; Sensex, -2%; Nifty Midcap, -4.3%; Nifty Smallcap, -5.5%; Model Portfolio, 0%

Daily Market Review

Market Pulse: Downtrend

Nifty, after a gap down opening, traded toward the day’s high of 8,575. However, it succumbed to selling pressure in the last hour of trading and erased its gains to close below 8,300. About 80% of Nifty50 stocks closed in the red.

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How to Read the Market Direction?

“You are better off staying on the sidelines in cash until a new bull market really starts,” – William J. O’Neil

Investors spend a disproportionate amount of time buying a stock, as compared to selling it. A good game plan for investing is akin to the war strategy used in the ‘Mahabharat,’ known as ‘Chakravyuh.’ The young Abhimanyu knew how to penetrate into the labyrinth formation, but ultimately met his death in the ‘Chakravyuh,’ because he did not have the knowledge of its exit strategy.

It is often said, “Only when the tide goes out, do you discover who’s been swimming naked.”

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Daily Big Picture: Nifty dives to a 52-week low. Use our technical analysis tool to decide on the stocks to invest.

Daily Market Review

Market Pulse: Downtrend

After floundering for most of the day, markets recovered mildly in the last hour to close with still heavy losses on higher volume. Nifty pierced August 2019 lows and made a fresh 52-week low. Brent crude price has declined sharply to less than $35 per barrel with Russia and Saudi Arabia preferring volume over value strategy. European markets opened with a 6–8% loss on benchmark indices. U.S. stock futures are also trading with a ~5% loss. U.S. 10-year treasury yield continued to slide lower, dropping to a new low of 0.34%. India’s 10-year government bond yield breached a 6% mark.

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Share Market Basics: Investing Mistakes to Avoid in a Down Market

You found a company with an amazing product. Strong demand was fuelling big earnings and sales growth. Mutual fund sponsorship was top-notch, and the stock was in a bullish technical pattern. But the stock went lower soon after you bought it because you were wrong about the direction of the general market.

Mistakes are plentiful during a market downtrend. Avoid these common ones, and you will be able to keep your hard-earned cash intact.

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Daily Big Picture: A small feat by Nifty as it manages to close in Upper Half of today’s Range. Here are some Stock Tips for the day.

Today’s Action

Nifty, -0.5%; Sensex, -0.5%; Nifty Midcap, -1.5%; Nifty Smallcap, -2%; Model Portfolio, -2.2%

Daily Market Review

Market Pulse : Downtrend

After opening higher, Nifty failed to hold gains and rolled over to losses of more than 1.5%. It also breached low of day one of an attempted rally. However, Nifty staged an upside reversal in the last hour and closed only 45bps lower. As the day one low was breached intraday, the count for an attempted rally resets.

Continue reading “Daily Big Picture: A small feat by Nifty as it manages to close in Upper Half of today’s Range. Here are some Stock Tips for the day.”