Large gap down opening , volatility is very high, price remained in the correction, trend reversal for short to medium term, Avoid trading in nifty and bank nifty.
Nifty opened with gap up down of 156 points, after that market recovers in full days but finally closing on the bearish mode at 10666.55 (-94.05p points) -.87%.
Markets are following on the international news as Down Jones yield high to 2.85%, highest since from last 4 years and on the budget impact , which the govt. has implemented the 10% LTCG on the profit for investors.
Yesterday Dow Jones closes at 1175.21 Points (-4.6%) with intraday down of 1597 points. Dow corrected due to fear of 4 times increases in interest rates, inflation increases and strong employment data on Friday.These factors made the sell off in the market. SGX Nifty is down -334.5 Points (-3.13%). Major level for support of nifty is 10000-10100, but avoid to trade due to very high volatility.
Corrections are a normal part of the investing process and not a reason to sell quality investments.
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