During the upswing, he had planned a rich trip to
11:15 AM - One cannot say that the final bottom for the market has been seen yet, says Sushil Kedia, of K&A Securities, on CNBC-TV18. But if the market has fallen like a rock, it can go up like a rocket, he adds.
Fantastic, but that everyone knows. And if making this phenomenal statement makes some one a market expert, Bishan Singh Bedi would long have replaced Anil Kumble.
11:52 AM - If one cannot buy now, then at least hold on to your investments in equities, as fundamentals are still pretty strong, says Deven Choksey of KR Choksey Securities, on NDTV Profit. Most of the poison is out of the market now, he says. If you are invested in the debt market, you can switch to equities, as this is a good time to buy in this market now, he suggests.
As soon as the comment came, read below what happens.
11:55 AM - And the fall keeps getting worse! Margins calls have triggered again. Sensex is at 15,374, down 2,230 points from the previous close. It is the biggest intra-day fall for the Sensex ever. Nifty is at 4470, down 738. CNX Madcap index is down 16%, while the BSE Small cap index is down over 9%. NSE advance-decline ratio is at 1:75.
It kept fluctuating at alarming frequency with unimaginable lows being breached every time and the claimed “Support” at different levels touching lower nadirs.
People talk about technical analysis and fundamental strengths but in a market which is highly volatile, immature to some extent (not sure how you define maturity, I picked it from one of the expert’s comments) and driven by lots of inefficient factors, do they hold?
Such volatility could only be explained by behavioral finance to some extent where retailers are butchered in the hands of big bulls. Although analysis does reap you a few benefits but more often that does not match the expectations built during a ‘death or glory’ bull run. Key lies in doing all you can do and then pray for your tryst with lady luck.
Today, I bought a stock at 660 with quantity being 5 and as soon as I saw it 750, decided to sell. By the time I was discussing it with my same old friend it was down to 730 and I sold it. It got sold at 705 and I earned a profit of 225. Now my friend is asking me a loan of 100, logic – “Abey, honeymoon pe cold drink peene ka to paisa ho”.